Fall 2015 Distinguished Lecture in Economics - Freeman

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Reducing inequality and improving productivity by employee ownership: evidence-based economic policy for 21st century capitalism By Richard B. Freeman Herbert Ascherman Chair in Economics at Harvard University The spectre of inequality haunts modern capitalism, as a small elite gain the bulk of the benefits of economic growth and use their wealth to dominate economies and polities. In virtually every country, labour's share of income has fallen and inequality increased massively. What can we do to arrest the growth of inequality, restore a strong middle class, and make sure that real wages of typical workers grow with productivity? Based on his research with coauthors Joseph Blasi and Douglas Kruse, Professor Richard Freeman argues that the answer lies in wider ownership of capital and worker participation in decisions at their workplace and firm. He gives evidence that this solution works and lays out ways to get from here to there.

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