Cooperatives in the Twenty-First Century

A great book on how economic democracy can help reduce inequality and solve our political crisis. A must-read for anyone who cares about worker well-being and a fairer distribution of wealth. – Thomas Piketty, author of Capital in the Twenty-First Century
This closely argued book significantly raised my priors on the desirability and feasibility of worker cooperatives. Francesco Caselli does a great job of clarifying the design principles that enable worker-owned firms to generate high levels of economic performance while moderating inequality. The book should not only reinvigorate an old debate among economists and policymakers but also deepen it considerably. – Dani Rodrik, author of The Globalization Paradox
Francesco Caselli’s call for a careful rethink of worker-owned firms may seem far too radical to many economists. However, as the AI revolution upends labor markets and dramatically increases capital’s share of income, there is a compelling need for fresh thinking. Caselli thoughtfully answers the main critiques of worker cooperatives and raises important questions about how capitalism should evolve. – Kenneth Rogoff, author of Our Dollar, Your Problem
Francesco Caselli passionately and persuasively argues that economists have underappreciated the societal benefits, and in some cases also the efficiency benefits, of worker cooperatives relative to conventional firms. One does not have to endorse all his proposals to find much of value here. – Oliver Hart, Nobel laureate, Harvard University
In recent years economic growth has left large groups of workers behind, with stagnating incomes and insufficient training opportunities. Francesco Caselli suggests a new and innovative solution to the problem that could tackle both inequality and training gaps, and eventually reignite productivity growth. His argument is evidence-based and written in accessible language. Whether you agree with him or not, I strongly recommend this book for anyone concerned with the state of our economies and the inequalities and social tensions they have created. – Christopher Pissarides, Nobel laureate, London School of Economics and Political Science

Francesco Caselli is Norman Sosnow Professor of Economics at the London School of Economics and Political Science.

This item is eligible for free returns within 30 days of delivery. See our returns policy for further details.