WORKERS' SAVINGS AND THE RIGHT TO MANAGE
主张将企业管理权从资本所有者重新分配给工人，通过工人投资基金持有的绩效债券提供外部融资，以提高生产率、改善工作生活质量并应对养老金危机。
Abstract Most Western capitalist institutions are islands of fascism in a sea of democracy. But democracy can be introduced from the political to the economic sphere by re‐assigning the right to manage from capital owners to workers, thereby creating a sector consisting of self‐managed firms. Such firms require external finance for efficiency; this can be supplied via a new form of financial asset (performance bonds), to be held by wage‐earners' investment funds. Reforms such as these could improve productivity and the quality of working life, strengthen the role of markets and help to deal with the so‐called pensions crisis. These reforms would threaten the interests of private capital owners and would therefore require decisive political action: they can thus be differentiated sharply from voluntary, enterprise‐level schemes for introducing profit‐sharing, employee share‐ownership or industrial democracy.