Richard Wolff- The Costs of Capitalism's Crisis: Who Will Pay?

[Robbie3000]

http://en.wikipedia.org/wiki/Supervisory_board

German corporation law, the Aktiengesetz, requires all public companies (Aktiengesellschaften) to have two boards: a management board called a Vorstand and a supervisory board called an Aufsichtsrat.

In Germany the supervisory board of large corporations is composed of 20 members, 10 of which are elected by the shareholders, the other 10 being employee representatives. The supervisory board oversees and appoints the members of the management board and must approve major business decisions.

I remember reading about this and how this model has helped Germany protect it's manufacturing base.

 

[No1]

I remember reading about this and how this model has helped Germany protect it's manufacturing base.

Well, Germany doesn't have a federal minimum wage. All the sectors bargain their own wages with unions. It works for some but not for others. That's why they're having a major minimum wage debate right now.

Unlike most European Union countries, Germany has resisted a minimum wage, in part because it was seen as political interference in wage bargaining between unions and employers. Instead it relies on collective wage deals by sector and region.

But coverage by such agreements has decreased to 59 percent of the workforce from more than 70 percent in 1998, according to the Hans Boeckler Foundation, and the low pay sector has surged in the wake of reforms to loosen up the labor market.

Reports of workers earning as little as 2 euros an hour have proliferated in recent years, particularly in eastern Germany

The supposed fear is that operations will just be moved to nearby states with lower minimum wage costs.

 

[NZA]

Good Video. Props.

A good point he brought up is the lack of representation for Employees in decision making. Just as a question, do you think employees should be able to elect at least a certain percentage of board members?

Democracy at the workplace? :

i think publicly traded companies should be subject to a whole host of socially responsible rules, including a chief labor officer of some sort