Owning the Future: Creating the Next Generation of Employee Owners

07/06/23 • 80 min

The Aspen Institute Economic Opportunities Program — Events and Interviews

US businesses and workers are currently at a critical crossroads. Millions of baby boomers will soon retire and sell their businesses, transitioning trillions of dollars of wealth in the process. This transition, along with the continued strength and profit growth of large corporations in the US, has created a once-in-a-generation opportunity for millions of workers to share in the profits of their labor and become business owners. Many barriers, however, stand in the way of the US realizing this opportunity, and new policy innovations are needed to address these obstacles.

In this conversation, speakers discuss the barriers and solutions, including proposed legislation, to capitalize on the growing number of business owners selling their businesses to build a future where American workers’ path to prosperity is self-determined. It features special remarks from the Honorable Chris Van Hollen (US Senator for the State of Maryland), the Honorable Dean Phillips (US Representative for the State of Minnesota), and the Honorable Blake Moore (US Representative for the State of Utah), followed by a panel discussion with Regina Carls (Managing Director, ESOP Advisory Group Head, JPMorgan & Chase Co), John Cochrane (Senior Manager of Policy and Programs, US Impact Investing Alliance), Bill Hayes (Founder and Managing Partner, Mosaic Capital Partners), Todd Leverette (Partner, Apis and Heritage), and moderator Jack Moriarty (Founder and Executive Director, Ownership America; Assistant Director for Policy Analysis, Institute for the Study of Employee Ownership and Profit Sharing, Rutgers University). For more information about this event — including video, audio, transcript, speaker bios, and additional resources — visit: https://www.aspeninstitute.org/videos/owning-the-future-creating-the-next-generation-of-employee-owners/

This discussion was held on June 14, 2023, as part of the Employee Ownership Ideas Forum, co-hosted by the Aspen Institute Economic Opportunities Program and the Institute for the Study of Employee Ownership and Profit Sharing at Rutgers University. This two-day convening brought together leading policymakers, practitioners, experts, and the media for a robust discussion on how we can grow employee ownership for the shared benefit of American workers and businesses. Learn more: https://www.aspeninstitute.org/events/employee-ownership-ideas-forum/

Previous Episode

Rebuilding the Middle Class through Employee Ownership

Stagnant wages, the rising cost of living expenses, and other factors have led to a shrinking middle class and growing income and wealth inequality in recent decades. Workers in employee-owned businesses, however, have often fared better than their peers on a range of measures related to economic well-being.

In this conversation, speakers discuss the latest research on wealth inequality and the potential of employee ownership to help rebuild the middle class. It features opening remarks from Richard Freeman (Herbert Ascherman Chair in Economics, Harvard University), Doug Kruse (Distinguished Professor, School of Management and Labor Relations, Rutgers University), and Fidan Kurtulus (Professor of Economics, University of Massachusetts Amherst), followed by a panel discussion with Veronica Ortiz (Business Systems Analyst Manager, Worker-Owner, Web Industries), Stephen Smith (Chairman, President, and Chief Executive Officer, Amsted Industries Incorporated), Steve Storkan (Executive Director, Employee Ownership Expansion Network), Tomás Durán (President, Concerned Capital), and moderator Abha Bhattarai (Economics Correspondent, The Washington Post). For more information about this event — including video, audio, transcript, speaker bios, and additional resources — visit: https://www.aspeninstitute.org/videos/rebuilding-the-middle-class-through-employee-ownership/

This discussion was held on June 15, 2023, as part of the Employee Ownership Ideas Forum, co-hosted by the Aspen Institute Economic Opportunities Program and the Institute for the Study of Employee Ownership and Profit Sharing at Rutgers University. This two-day convening brought together leading policymakers, practitioners, experts, and the media for a robust discussion on how we can grow employee ownership for the shared benefit of American workers and businesses. Learn more: https://www.aspeninstitute.org/events/employee-ownership-ideas-forum/

Next Episode

Good Work in the Gig Economy: Building a Sustainable App-based Economy

App-based short-term work, often called gig work, has been around for more than a decade. As use of app-based services has grown and become part of many people’s daily lives, so has awareness of the risks and challenges it presents to workers. During the pandemic, attention on gig work surged as thousands of unemployed service workers turned to apps for an income, and millions relied on these workers to deliver food and other essentials to their homes. Coming out of the pandemic, what is the status of gig work today, and what does the future hold? While many problems with the most widely used apps persist, new models have emerged as platform-based work has become an established part of the labor market. Join as we explore how people are challenging the status quo of gig work and reimagining platform-based jobs to be good jobs that can sustain workers.

In this conversation, we hear about alternative models of platform-based work, including cooperatives and public options, about policies being introduced to improve gig workers’ lives, and about research showing us what’s ahead. This event features a panel discussion with Will Coleman (Alto), Lexi Gervis (Steady), Ligia Guallpa (Worker's Justice Project), Adrian Haro (The Workers Lab), and Shelly Steward (The Aspen Institute).

For more information — including video, audio, transcript, speaker bios, and additional resources — visit our website: https://www.aspeninstitute.org/events/good-work-in-the-gig-economy-building-a-sustainable-app-based-economy/