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Review

“America used to be based on broad access to wealth and property. If you want to know more about this tradition, and how to revive it, read this book.”—Thomas Piketty, author of Capital in the Twenty-First Century (Thomas Piketty)“Citizens should know about The Citizen’s Share--it’s important. And there is no better trio than Blasi, Freeman, and Kruse to tell them about it.”--Alan Blinder, Princeton University (Alan Blinder)“The proposal . . . stands apart from alternate policy initiatives . . . because it addresses the concentration of wealth and political power at the top. The idea of expanding employee ownership deserves serious consideration.”—Thomas B. Edsall, New York Times (Thomas B. Edsall New York Times)“The founders . . . agreed that America would survive and thrive only if there was widespread ownership of land and businesses.  Professor Joseph R. Blasi and Douglas L. Kruse of Rutgers and Richard B. Freeman of Harvard gathered many of the founders’ writings on this topic for their book . . . Copies are currently circulating among congressional staffs in both parties as politicians brace themselves to face what polls show is a rapidly rising concern over economic growth concentrating at the top.”—David Cay Johnston, Newsweek (David Cay Johnston Newsweek)"The Citizen's Share provides a thoughtful . . . analysis of the benefits of encouraging greater employee ownership of businesses . . . In seeking to increase employee compensation as well as tax reform, Washington should be thinking hard about how to expand and encourage greater employee ownership and/or revenue sharing."—Dean Zerbe, Forbes Magazine (Dean Zerbe Forbes Magazine)“This provocative study exposes a long-lost history of successful profit-sharing within U.S. capitalism. Good business (not conscience), the authors argue, holds the promise of a more equal and therefore more democratically organized society. This is an optimistic, but eminently plausible scenario.”―Alice Kessler-Harris, author of In Pursuit of Equity: Women, Men and the Quest for Economic Citizenship in Twentieth Century America (Alice Kessler-Harris)“A model of sober scholarly analysis and impassioned political advocacy. . . . Here is a book on economic policy that might make the Founding Fathers smile”—Jonathan I. Levy, author of Freaks of Fortune: The Emerging World of Capitalism and Risk in America. (Jonathan I. Levy)"An accessible, and informative, story of government and business support for worker ownership . . . . Spotlights an important area of American economic history."—Library Journal (Library Journal)“This book offers the compelling vision of a better healthier American economy founded on the basic principles of employee ownership and profit sharing. The deep-rooted history of this American vision is elegantly interwoven with the results of modern rigorous research. The Citizen’s Share is a wonderfully readable book with an important message that will provoke serious thought and discussion.” ―Martin L. Weitzman, Professor of Economics, Harvard University. (Martin L. Weitzman)“A few years ago, Blasi, Kruse, and Freeman caught people’s attention with an intriguing thesis: that a company performs better when owned by its workers . In this book, the authors go a step further. They make the interesting and provocative claim that worker ownership also improves democracy. Readers may disagree with the conclusion, but they will want to understand the argument.” ―Eric S. Maskin, Nobel laureate in Economics, Harvard University (Eric S. Maskin)

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About the Author

Joseph R. Blasi, J. Robert Beyster Professor and sociologist, and Douglas L. Kruse, professor and economist, are both at the School of Management and Labor Relations, Rutgers University. Richard B. Freeman is Herbert Ascherman Professor of Economics at Harvard University.

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Product details

Paperback: 320 pages

Publisher: Yale University Press; 1st edition (June 24, 2014)

Language: English

ISBN-10: 0300209339

ISBN-13: 978-0300209334

Product Dimensions:

6.1 x 0.8 x 9.2 inches

Shipping Weight: 14.4 ounces (View shipping rates and policies)

Average Customer Review:

4.3 out of 5 stars

16 customer reviews

Amazon Best Sellers Rank:

#825,242 in Books (See Top 100 in Books)

Superb book! The authors make the case that offering profit sharing and stock options, etc., make companies more prosperous when the employees have a share in the ownership of the company. Through extensive research they show that this practice is consistent with the vision of our founding fathers about the value of land ownership, and that in our more modern, urban society this vision can be achieved by providing employees with a share in the ownership of the company through stock options and profit sharing. This is one of the most carefully researched books I have read.

The struggle for economic equality has been going on since 1776, from debates over cod fishery payments to homestead act to the creation of ESOPs. The authors, and others including Richard Wolff, argue that what's needed is more 'broad-based capitalism' or in Wolff's term, democracy in the workplace, through greater employee ownership and active participation in the enterprise, and the most effective vehicles for achieving this appears to be a combination of profit/gain sharing and employe shares/stock options.

Book Review of: The Citizen’s Share, by Joseph Blasi, Douglas Kruze and Richard FreemanBy Joseph V. RaffertyThis remarkable watershed book, The Citizen’s Share, by legendary researchers at Rutgers University, Joseph Blasi, Douglas Kruze and Richard Freeman could be one of the answers currently challenging Americans today: how to solve the growing gap between Rich and Poor. A scan of the book will summarize the deep rooted history from our founding Fathers through every phase of the growth of our nation that Ownership-- initially of land--and later sharing in the productive benefits of their work places, via corporate profit sharing, Employee Stock Ownership Plans (ESOP’s), and other forms of Stock ownership—was a preeminent intention of our Founding Fathers, including Washington, Jefferson, Adams and Hamilton.The book highlights with extensive research that our country’s leaders have striven to find a way to allow workers to sharing in the profits of their work. ESOPs are important, not only because the employees do not have to purchase the shares (earning them instead through sweat equity), but also because the laws controlling ESOPs insure that the lower paid workers get their rightful share.Yet, today, there are only about 10,000 companies with ESOPs—about the same as 20 years ago--a tiny fraction of what could be. Beginning on page 201, the authors present 11 steps our Government could take to fulfill what always has been in our culture—allowing the majority of workers to receive more than salary, but a significant share of capital ownership.In this day where the politics and headlines besiege us with the 1% versus the declining “middle class,” many employee owners are astounded that no major political leaders have embraced the idea that employee ownership should be energetically expanded.I have been personally observing various forms of employee ownership for over two decades in 22 different states. Except for a miniscule number of well publicized ESOP failures, they have proven to be more productive, four times more likely to withstand bad recessions--as demonstrated in the last five years--and most importantly, creating significant capital wealth for the employee owners in these companies as compared to non-employye owned organizations.

I strongly recommend The Citizen’s Share to business leaders who are interested in developing a competitive advantage à la Southwest Airlines, NUCOR, SRC Holdings, or W. L. Gore & Associates. This book will appeal to those who are interested in learning how the middle class can be resurrected. It brings together the historical roots of employee ownership (EO) with the current research. By doing so it presents a strong argument for adoption of EO and a collaborative culture by corporate leaders. For others, it outlines how the schism between the “Haves” and the “Have-nots” can be reduced not by forced wealth redistribution, but by giving all the freedom to intelligently pursue personal growth, continuous innovations and success within their places of work.Frank Shipper, Professor of Management, Salisbury UniversityCo-author of Shared Entrepreneurship: A Path to Engaged Employee Ownership (Forthcoming in 2014)

I liked how well it explained the concept of "broad-based capitalism."I like the citing of our founders and the example of the cod-fishing business.I think this book would be a good read for state legislators in their attempt to deal with states' economic crises. It has the potential to get states to have more transparency in dealing with state budget. Too much of this is kept secret from the press and citizens. I think state budgets would be a good place to try some of these ideas especially when it comes to attracting businesses into a state. Right now there's too much competition among states in trying to draw businesses into their respective states.

Worth buying for the post revolutionary story of fisheries alone! I'm a history major and totally missed the forces that united unlikely allies out of Hamilton and Jefferson. Brilliant and persuasive, has enriched my understanding of America and where we come from economically and politically in our heritage.

Although the book is a bit tedious, the premise of greater share in the fruits of production has much to be said for it. We would all benefit from less crony capitalism and less elitist welfare.

A solution to America's ills. Not just to get all on the same page, but to present hope for the future of the country. To parctice what we so brazenly preach.

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