How to make 400 ordinary people into millionaires


Corporate videos generally should be taken with a pinch of salt, but this one carries the ring of truth. WinCo is a supermarket chain that is owned by its 15,000 employees, many of whom have become millionaires. See the article at http://www.ryot.org/winco-foods-grocery-employees-millionaires-walmart/883593, which says “according to Forbes, WinCo has more than 400 front-line employees — cashiers, shelf-stockers, clerks, and others — who are already millionaires.” Employee ownership is one of the very few avenues to address the accelerating growth in inequality. And at the same time it transforms the working lives of ordinary people, and the experience of their customers.

US Wealth Distribution is Crazy

This is a great, clear video showing how the distribution of wealth in the USA has gone crazy. Joe Stiglitz, the Nobel prizewinning economist, concluded from his research that the market has no Invisible Hand that makes things all right. What works in the market is power, and when you let the powerful off the hook, when they no longer have any sense of being responsible for the consequences of their actions, then this is what happens. Only six minutes, and very well worth seeing.