Center For American Progress Report Cites Need For More Inclusive Capitalism
WASHINGTON, April 8, 2013 /PRNewswire-USNewswire/ -- In a new report, the Center for American Progress discusses the idea of inclusive capitalism and how its proven track record has helped companies and employees grow wealth in the U.S. It also notes the necessity for greater dialogue among policy makers and ways to promote inclusive capitalism.
The Center for American Progress defines inclusive capitalism as "…granting workers ownership stakes in the company or a share of its profits based on workers' collective performance…" The report names employee stock ownership plans (ESOPs) as one of the effective financial incentives used to reward employees and generate wealth.
"When employees have stakes in the companies they work for, studies show that productivity and profitability increase, the companies experience less employee turnover, and jobs stay in the community," said ESOP Association President, J. Michael Keeling. "We agree. Policy makers need to step up and encourage broad-based inclusive capitalism and increased employee ownership to ensure sustainable employment for U.S. workers."
This new Center for American Progress report, Growing the Wealth: How Government Encourages Broad-Based Inclusive Capitalism , was authored by David Madland and Karla Walter. It was released on April 2, 2013. The report, and additional information, is available on the Center for American Progress's website: http://www.americanprogress.org/issues/labor/report/2013/04/02/57409/growing-the-wealth/.The ESOP Association is the national trade association for companies with employee stock ownership plans (ESOPs) and the leading voice in America for employee ownership. The core cause of The ESOP Association is the belief that employee ownership will improve American competitiveness, increase productivity through greater employee participation, and strengthen our free enterprise economy. More information: website - www.esopassociation.org and blog – www.esopassociationblog.org. SOURCE The ESOP Association
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