Comments by "Wandering Existence" (@WanderingExistence) on "U.S. Constitution vs. Economic Democracy - Economic Update with Richard Wolff" video.
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Economic democracy is building a system that gives people a vote in their economic lives. Examples of democratic institutions are cooperatives, credit unions (which is really just a cooperative bank), public banks, workers unions, community land trusts.
The Evergreen Cooperative was started in Cleveland, Ohio as a laundry service and now has turned many other businesses into cooperatives. "In the 11 years since then, Evergreen Cooperatives has added three more cooperatives to its ranks, growing from two companies with a total of 18 workers in 2010 to five companies with approximately 320 workers. Those workers are paid 20 to 25 percent higher than employees at the cooperative’s competitors. “Our average pay rate is close to $15,” says John McMicken, CEO of Evergreen Cooperative Initiative. “But when you take profit sharing into account, which could equate to $4 to $5 an hour, we’re hoping that we have a shot at breaking the $20 an hour ‘blended rate,’ if you will.” In 2019, the average compensation at Evergreen Cooperative Laundry was around $18 per hour." - Despite a Rocky Start, Cleveland Model for Worker Co-ops Stands Test of Time, by Brandon Duong
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