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The radical plan for taming capitalism: Give everyone a share of Wall Street

Jeff Stein

Corneo is part of a group of economists on the left who think they may have a better way, if not a substitute: Rather than taxing and redistributing income, the left’s traditional playbook, the government should slowly buy shares in public companies, becoming partial owners in the corporate world. [...] “These plans are about redistributing the ownership of capital to workers, rather than just improving the wages of workers,” said Peter Gowan, a policy associate at the Democracy Collaborative, a left-leaning think tank, who also supports higher taxes on the rich.