Socialism: answer the horizon problem with reserve rules, not share sales

Add the-long-run.md: the Furubotn-Pejovich worry, the French and Italian evidence, the plywood "failure of success", and four rules: the reserve takes its share of pay above the going rate, asset-sale gains go to the reserve, qualifying development can be spread over five years with abandonment charged to those who chose it, and accounts earn Treasury+2 only while at risk. Update capital accounts, worker ownership, the pilot's measures, open problems and the index. Co-Authored-By: Claude Opus 5.5 <[email protected]> Claude-Session: https://claude.ai/code/session_01QWPs69B8nQZjtPEUXMKzZx
2026-09-23 15:32:19 -06:00
parent a75c24fcf2
commit 4e686aaf72
6 changed files with 99 additions and 5 deletions
@@ -13,7 +13,7 @@ summary: A working model for building an economy where the people who do the wor

 This model doesn't buy, seize or convert anyone's company. Instead it builds new worker-owned companies alongside existing ones, then lets customers and workers choose between them.

- **Workers own their company.** Every member gets one vote. A share of the profits grows with tenure until long-time members split them equally. Salaries still exist, and hard jobs still pay more. Part of each year's profit builds up in a personal account that's paid out when you leave. [Worker Ownership](worker-ownership.md) and [Member Capital Accounts](capital-accounts.md)
+- **Workers own their company.** Every member gets one vote. A share of the profits grows with tenure until long-time members split them equally. Salaries still exist, and hard jobs still pay more. Part of each year's profit builds up in a personal account that's paid out when you leave, and part goes into a permanent reserve that keeps the business investing. [Worker Ownership](worker-ownership.md), [Member Capital Accounts](capital-accounts.md) and [Investing for the Long Run](the-long-run.md)
 - **A small public bank lends to worker co-ops.** It charges market rates, so it only succeeds if co-ops can really compete. Its whole job is to be willing to lend to a kind of company other banks won't. [The Bank](the-bank.md)
 - **Co-ops funded this way stay co-ops forever.** They can't be sold to conventional owners, and members can't vote to cash out what earlier members built. [The Lock](the-lock.md)
 - **It runs as an honest experiment.** A one-time $350 million pilot aims to fund about 400 new co-ops. The success measures are published before the first loan. If, after twelve years, co-ops stay open about as well as similar conventional firms while paying their members fairly, and the bank earned at least what Treasury bonds would have, Congress votes on growing it. If not, it shuts down automatically. [The Test](the-test.md) and [The Pilot, in Numbers](pilot-spec.md)