If you want to see the one fresh economic growth idea that has finally jelled in American society and that cuts across party lines with the potential to create a large middle-class majority, then read on.
A new book, THE 3rd WAY: Building “Inclusive Capitalism” through Employee Ownership presents a major idea that will renew The American Dream and make more wealth available to more citizens by encouraging broad-based employee stock-ownership in small businesses and large corporations.
The authors are working with the public relations firm that I work for. In getting to know them and their ideas, I can see how passionate they are in wanting to share their book with the American public.
“The central purpose of this book is to make the case that by further enhancing the tax incentives for corporations to share equity with their employees, the nation will see an overall better performance by corporations, a more secure and motivated workforce, countless benefits to society, a stronger economy, and potentially more tax revenue,” says Republican co-author Veny W. Musum.
Democrat co-author Upendra Chivukula says: “Like massive tectonic plates, the two most fundamental forces of labor and capital are moving away from each other with catastrophic consequences. But it’s not too late to act.”
Some 15 million fortunate employees already participate in employee-owned companies, impacting over 10,000 companies with combined assets that exceed one trillion dollars. But this only represents a little over 10% of the workforce. THE 3rd WAY lobbies for a revolution and calls for the greatest economic reform this country has ever undergone. It wants the nation to adopt the ESOP (Employee Stock Ownership Plan) model as the standard way of doing business.
The book is authored by a long-standing activist Republican, Musum, who is a New Jersey businessman. He is joined by a respected Democratic leader, Chivukula, the well-liked, brainy, policy-oriented Deputy Speaker of the New Jersey Assembly. The political officeholder capable of across-the-aisle dialogue and policy discussion when it’s designed to benefit the middle class.
Both political parties are observing that an economic Hurricane Sandy has slammed into the American middle class in the last few decades. Unlike our parents’ post-World War II generation, the middle class on average is not doing better each year. This book’s solution is to broaden the ownership of private capital without redistribution from the rich to the poor, by creating many more capitalists who can supplement their wage income with some capital ownership and income. The authors’ bipartisan way to accomplish these goals is for government to get out of the way.
READ MORE, including a Q&A with co-authors Upendra Chivukula and Veny Musum at BookMarketingBuzzBlog
December 29, 2015
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Multi-Author Blog (MAB) featuring relevant articles by leading scholars and experts in the field of Inclusive Capitalism and Economic Democracy.