Can co-ops remake America's economy from the ground up?
Federal Reserve policymakers have generally relied on tweaking interest rates as a strategy for jump staring the economy. But in a country where wages adjusted for inflation have been stuck in place for almost a decade, some scholars think the economy needs a more aggressive overhaul.
Gar Alperovitz is a political economist and historian. His new book, called “What Then Must We Do: Straight Talk About the Next American Revolution”, details systemic changes for the economy. He says co-ops are key to the nation’s recovery.
“Most people don’t realize that changing the ownership of wealth means one person, one vote — that’s what a co-op is. 130 million Americans are already members of co-ops. They are all over the country and people just don’t notice them,” he says. “It’s a different, very American, down-home way to begin looking at democratizing ownership, starting at the bottom and working up from the grassroots.”