55% support Inclusive Ownership Funds (IOFs), where 10% of shares are for employees

Inclusive Ownership Funds (IOFs), which would require corporations to place a percentage of shares into a trust operated on behalf of workers. Recently, The Democracy Collaborative partnered with YouGov to conduct polling on these types of policies and found that 55% of respondents would support a policy requiring companies with over 250 employees to put 10 percent of their shares into a workers’ fund. Read more about IOFs, including support from Senator Bernie Sanders, in the Washington Post, Vox, New York Magazine, the New Yorker, and Common Dreams. The growing discussion of IOFs is also the product of a developing transatlantic exchange around the democratic economy that The Democracy Collaborative is helping to facilitate, as detailed in The Guardian, New Statesman, and Jacobin.

In addition to being politically popular, employee ownership can also help achieve goals related to sustainability. A recent article in Fast Company highlights The Democracy Collaborative’s research in this area, profiling a new report published by Fifty by Fifty that found that mission-led employee-owned firms outperformed on metrics related to environmental impact. Fifty by Fifty recently re-launched its website, bringing together news and updates related to scaling employee ownership. To receive email updates, subscribe to the newsletter here.

Earlier this month, the Healthcare Anchor Network (HAN) hosted its spring convening in Cleveland, Ohio, bringing together over 40 health systems to discuss how they can leverage their sizable economic resources to support inclusive, local economic development. HAN also worked in collaboration with Modern Healthcare to host their Social Determinants of Health Symposium, which centered on shifting the underlying economic conditions that create poor health. Read more in Modern Healthcare. Harvard University’s School of Public Health recently published a case study detailing the work of HAN member UMass Memorial Health Care (UMMHC) in Worcester, Massachusetts. UMMHC worked with The Democracy Collaborative to explore how to advance anchor strategies in the areas of investment, hiring, and purchasing. Reflecting on some of these themes,  Director of Healthcare Engagement David Zuckerman has contributed a chapter to a book on how to institutionalize the anchor mission approach. The chapter was co-authored by HAN members Michellene Davis with RWJBarnabas Health and David Ansell with Rush University Medical Center. Read more in the recommended reads below. 

Democracy Collaborative Fellow, and founder and chair of the Public Banking Institute, Ellen Brown has released a new book, Banking on the People: Democratizing Money in the Digital Age, published by The Democracy Collaborative. The book explores the development of the current banking system, rooted in extraction, and how banking can be transformed to support the public good.