![]() | Shared Capitalism at Work: Employee Ownership, Profit and Gain Sharing, and Broad-Based Stock Options The historical relationship between capital and labor has evolved in the past few decades. One particularly noteworthy development is the rise of shared capitalism, a system in which workers have become partial owners of their firms and thus, in effect, both employees and stockholders. Profit sharing arrangements and gain-sharing bonuses, which tie compensation directly to a firm's performance, also reflect this new attitude toward labor. Douglas L. Kruse is professor in the School of Management and Labor Relations at Rutgers University and a research associate of the National Bureau of Economic Research. Richard B. Freeman holds the Herbert Ascherman Chair in Economics at Harvard University and is a research associate of the NBER. He is the former director of the NBER Labor Studies program. Joseph R. Blasi holds the J. Robert Beyster Chair in the School of Management and Labor Relations at Rutgers University and is a research associate of the NBER. |
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