Co-determination - The end of our rigged economy

Corbynistas in Britain dream of truly Socialist Britain. But if they want a Britain truly for the many and not run by a wealthy elite they will need more than higher taxation and a strong welfare state to achieve this dream. It needs co-determination

Socialism means workers controlling the fruits of their labour.

Co-Determination is workers having the right to vote on the board of directors of companies. Taking power from rich shareholders and giving them back to the workforce. It's workers having partial control of the means of production. A reform leading to socialism.

This is a truly socialist policy. A policy that lead would lead to real change in the structure and control of our economy and our country. A policy that could lead working class voters back to the Labour party. A policy that finally allows workers to have control of the wealth they create.

If the economy is going be for the many, it must be controlled by the many.

However it was not Labour who brought up co-determination, it was Theresa May. Her attempts to woo working class voters were more sincere when she ran for Tory leader last year stating:

“we’re going to have not just consumers represented on company boards, but workers as well”.

She has since then backtracked on her claims she would enact such policies. Losing her power in the Tory party she ditched her more radical policies. U turning by Saying our current laws were sufficient and we wouldn't move to a German esc binary boards system.

Stating she didn't want the system that works well in Germany, Denmark and France because it would curb productivity. Many lobbyist worry that companies not acting solely in the interest of shareholders could have on profits for our rich elite.

Of course by moving away from the desires of shareholders we'll turn into the economic wastelands of Germany and France, both with higher economic growth rates than us.

The facts are Unions and workers understand the need for economic growth. Having them on boards will only stop worker exploitation, not hold back growth.

Co-determination takes many forms across Europe. It's weakest form is held in France. where worker represented members control 1/3 of the seats on the board of directors, to give shareholders the upper hand. In other nations it's half. In Germany, a binary board system is used. Worker representation controls one, and the other is a standard board of directors. The policy can be adapted to fit the nations needs economically.

Equally it won't strangle small businesses. In France only companies over 5000 strong must have co-determination, in Denmark it's 20. Germany 500.

The fact it can be varied allows it to fit the nation's and worker's needs perfectly to generate a functioning and fair economy.

For those who don't dream of a socialist utopia where workers are represented and treated fairly, or for those who don't think it can be achieved via worker representation must realise it's practical benefits.

As well as negotiating worker pay it can help stop issues such as capital flight. Co-determination could help stop companies moving factories and HQs after Brexit. Workers aren't going to vote to lose their jobs. It could help retain our manafactoring industry post Brexit despite worries about import and export tariffs. It could end capital flight and corporate tax evasion. It can right wrongs about corporate wage structures. It will make the voices of workers louder, causing higher pay and greater rights. Worker representation can help right many wrongs in our current economic system. There is no end to the limits of the good proper worker representation can do for our economy.

Co-determination is a policy the Labour party must champion if it truly wants to end our rigged economy. Building one for all.

#JeremyCorbyn #LabourParty