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Employee Ownership and Profit Sharing: Models, Incidence, and Sectors

Employee Ownership and Profit Sharing: Models, Incidence, and Sectors

Author: Joseph Blasi; Jonathan Michie
Publisher: Routledge
ISBN: 9781041122104
Published In: September 2025
Format: Hardback
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only

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This book explores a quiet revolution reshaping global capitalism: the rise of employee ownership, worker cooperatives, and profit-sharing enterprises. With 17% of U.S. adult workers now holding equity in their companies, a new Employee Ownership Trust (EOT) being established daily in the UK, a mature sector thriving in France, extensive tax incentives in Canada, the continued development of several mature worker cooperative sectors worldwide such as Mondragon, and interest in many other nations —shared ownership is no longer a fringe idea.

Authored by leading researchers, this volume presents 16 studies on how equity and profit shares for workers operate — exploring their impact on employees’ lives, firm performance, local communities, the racial wealth gap, and the determinants that drive success or failure in such enterprises. This volume is one of the first to examine the emergence of businesses that share financial results with workers as a global phenomenon; it positions this model as a significant development in post-industrial capitalism. With a strong grounding in theory, and a coherent conceptual framework to explain observed behaviors and responses of workers, managers, and firms, this volume offers evidence-based insights that should influence policy in countries around the world.

This book will be essential reading for scholars and students in economics, sociology, business, public policy, labor studies, and organizational theory, as well as for policymakers, practitioners, and advocates interested in building more equitable and resilient economies.

The chapters in this book were first published in the 'International Review of Applied Economics'.

Introduction: The theory and practice of employee ownership

Joseph Blasi and Jonathan Michie

1. Meta economics: generating moral economies

Jonathan F. P. Rose

2. Continental ambivalence toward employee ownership: philosophical and historical interpretations

Christophe Sente and Christopher Mackin

3. Automation, artificial intelligence and capital concentration – A race for the machine

Jens Lowitzsch and Renan Magalhães

4. Defending and expanding industrial democracy and worker cooperatives in an age of neoliberal globalisation

Oier Imaz Alias, Johan Elvemo Ravn, Trond Sanne Haga and Davydd J. Greenwood

5. Employee ownership trusts: an employee ownership success story?

Andrew Pendleton and Andrew Robinson

6. A critical analysis of different forms of employee ownership

David Ellerman and Tej Gonza

7. Profit Sharing in Practice: Its Prevalence and Influence on Job Satisfaction Controlling for Workplace Amenities

Christos A. Makridis

8. The first study of majority employee-owned enterprises in the U.S.: an historical retrospective analysis

Erik K. Olsen

9. Explaining the rarity gap of worker cooperatives between France and Italy

Thibault Mirabel and Marco Lomuscio

10. Development of employee financial participation schemes in EU member states and their impact on firm performance: new evidence using European Company Surveys

Alban Hashani, Iraj Hashi, Wenzel Matiaske, Axel Czaya and Jens Lowitzsch

11. Where employee ownership works best

Colin Birkhead, Noah Gibson and Mark C. Hand

12. Employee Stock Ownership Plans (ESOPs) as social enterprise

Daphne Berry

13. Employee ownership for union workers: positive outcomes and negative perceptions

William Foley, Adrienne Eaton, Douglas Kruse, Joseph Blasi and Lisa Schur

14. Ecosystem supports for incarcerated worker co-ops

Jessica Gordon-Nembhard and Esther West

15. How do platform co-ops work? Social empowerment challenges from the implementation of CoopCycle in Argentina

Denise Kasparian

16. Cash profit sharing and labour productivity in family firms: Exploring the effects of R&D and capital intensities