Socialism: set conversion prices by a rule ladder, not dueling experts

Adds a Valuation chapter. It covers market price, control-size arm's-length sales, and a formula whose industry multiples come from real acquisitions and whose profit figures are cleaned of related-party games. Disputes stay in court (Monongahela), but each side files a final number, costs follow reasonableness, inflated claims draw a penalty, and workers get an independent public valuation counsel. Conversion brackets now apply to lifetime proceeds and look through foundations and trusts. Open problems are updated for the anticipation discount and conversion-tax durability. Co-Authored-By: Claude Opus 5.5 <[email protected]> Claude-Session: https://claude.ai/code/session_01GsSJ98117VXm9t7rBra5NX
2026-09-23 05:01:56 -06:00
parent e8f930e9fc
commit b1ed1b9b13
4 changed files with 112 additions and 6 deletions
@@ -13,7 +13,7 @@ summary: A working model for an economy where the people who do the work own and

 - **Workers own their company.** Every employee gets one vote from day one. A share of the profits grows with tenure until everyone who's been there long enough splits them equally. [Worker Ownership](worker-ownership.md)
 - **Companies back each other up.** Worker-owned firms pool part of their profits into a shared fund and bank. If one firm fails, its workers are moved into others instead of being left with nothing. [The Federation](federation.md)
- **Existing companies are bought, not seized.** Workers buy their company at full price and pay for it out of its future profits. A steeply progressive tax on the sale proceeds then funds the transition for everyone else. [The Conversion](conversion.md)
+- **Existing companies are bought, not seized.** Workers buy their company at full price and pay for it out of its future profits. A steeply progressive tax on the sale proceeds then funds the transition for everyone else. The price is set by clear rules, like the market price or what the last buyer actually paid, rather than by dueling experts. [The Conversion](conversion.md) · [Valuation](valuation.md)
 - **Investment is rented, not owned forever.** Investors still fund companies and can still earn huge returns, but their claim runs out and comes with no vote. [Capital, After](capital.md)
 - **Nobody is left behind by low-margin work.** Ownership doesn't help much when there's barely any profit to own, so a strong floor covers the rest. [Ownership and the Floor](the-floor.md)