Worker cooperatives might not solve unemployment but they could go a long way in reducing it.
The recent recession was the worst since the Great Depression of 1929. It lasted from December 2007 to June 2009.
Today’s leading indicators show that the economy is improving, the stock market has rebounded, housing prices are going up and corporate profits are at record high levels.
Unfortunately unemployment has stayed high long after the recession ended and now hovers at around 7.3 %. What we have is a jobless recovery.
A look at history over the past eighty years shows that our leaders have not been able to find lasting answers. After the Great Depression government tried to regulate the economy and stimulate demand to create jobs (the Keynesian way). It worked for a while until the 1970’s when we had high inflation and high unemployment (stagflation).
We then had supply side economics as taxes on the wealthy were cut and the economy…