But most professional employees get an 'ownership stake' (shares) in the company as part of their compensation anyway.
In 30 years, that might pool into ~10%. However, there is no mechanism for me, and my fellow coworkers to turn those shares into any kind of power over the board.
Me personally controlling a tiny fraction of a percent of voting shares does not make my interests align, in any meaningful way with the board. It also means that I have no ability to influence the board to consider my interests.
I need to act collectively, with like-interested co-workers, to have any influence. However, there is way too much friction for me, and like-minded coworkers to meaningfully undertake any collective actions.
In fact, this is understood so well by my employer, that I, and my peers receive non-voting shares as my compensation. I'd never be able to put the voting power to use, anyways, and neither will anyone else who has to gasp - work for a living.
Most - greatest in amount or degree i.e. greater than 50%
Professional - engaged in a specified activity as one's main paid occupation rather than as an amateur.
Were you being facetious, or do you honestly believe that most people in the world receive shares as compensation in their full time jobs?
Neither I, nor anyone I know, has ever received shares as part of an employment contract.
https://en.wiktionary.org/wiki/professional_class
Most public-sector jobs for university educated people include shares of some form or another for employees. Some times it's a very large proportion of the compensation, or even essentially all of it, for some management.
Forgive me if I am misreading your post, but it appear you're saying that a minority elites that are employed by a company already receive shares, so this is already happening.
Under this plan, all employees receive a stake in the company, which is more in line with what the original article was suggesting.
...err well they aren't using the word at all so it's a bit odd to say it's not the definition they're using.
> Forgive me if I am misreading your post
My point was that it wasn't some new radical idea - many people (not really elites - random programmers at tech companies, or marketers at agencies, or whatever aren't 'elites' by any stretch) are already getting this and it works fine without government intervention.
I would guess that at least 10% of Google, for example, is already owned by the employees? I may be wrong.
My wife has never received, and likely will never receive, shares as part of her compensation considering all of her experience is with non-profits.
Also, I suspect you meant "private-sector" here, not "public-sector" (i.e., government work).
Because last I checked with mine, they really belong to the bank, and are used to fill in my balance sheet. No voting allowed.