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Corporations Should Invest in Workers - Not Just Shareholders
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Dec. 3, 2018 | LABOR | Recent coverage of the collapse of Sears – the mid-20th century retail giant that filed for Chapter 11 bankruptcy in October – pointed to the major shifts in corporate treatment of their employees in the United States. Sears harkens to a time when it was understood that large corporations should share profits and benefits with workers, not just shareholders. This flashback comes at a moment where companies like Amazon are growing at an extreme pace, while its employees must choose between a living wage or access to small stock options. In Sears’s time, corporate management inside large firms treated workers as valuable contributors to corporate productivity, and unions had the bargaining power to negotiate stable living wages and robust retirement packages. But during the Reagan administration… Equal Times
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