Chapter

Shared Capitalism in the U.S. Economy: Prevalence, Characteristics, and Employee Views of Financial Participation in Enterprises

Douglas L. Kruse, Joseph R. Blasi and Rhokeun Park

in Shared Capitalism at Work

Published by University of Chicago Press

Published in print May 2010 | ISBN: 9780226056951
Published online February 2013 | e-ISBN: 9780226056968 | DOI: http://dx.doi.org/10.7208/chicago/9780226056968.003.0002
Shared Capitalism in the U.S. Economy: Prevalence, Characteristics, and Employee Views of Financial Participation in Enterprises

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This chapter gives an account of the current forms and extend of shared capitalism in the U.S. economy and provides an overall portrait of shared capitalism using the General Social Survey (GSS) and National Bureau for Economic Research (NBER) data sets. Both the NBER data set and the nationally-representative GSS data set indicate that while shared capitalism exists broadly throughout the economy, it is not distributed randomly across firms and employees. One important finding is that, shared capitalism plans are more likely in larger establishments, where free riding is likely to be the highest. To counter free riding, firms may combine shared capitalism with other policies to create a cooperative culture. An examination of risk aversion in the NBER data set shows that, risk aversion is linked to lower participation in several types of plans and less positive views of shared capitalism.

Keywords: shared capitalism; United States; General Social Survey; National Bureau for Economic Research; risk aversion; free riding; U.S. economy

Chapter.  13715 words. 

Subjects: Economic History

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