“Social Capitalism” another sustainable-incentive based stock market

In a wonderful article published, March 10, 2010, in The Nation, Steven Hill lays out the benefits and history of “Europe’s Answer to Wall Street.” After a brief nod to cooperatives, Hill delivers an insightful presentation of co-determination, which I must admit, though it is found in wikipedia, I have never heard of.

The article is great, the idea is wonderful, and I have my usual naive interpretation – as follows.

My take-off point begins with Hill’s (justifiable?) dismissal of coops, “…most cooperatives are generally small-scale and thus likely anytime soon to replace the most important economic institution in modern mass economies, which is the corporation.” Hill certainly is justified in using this as a segue into a discussion of more suitable alternatives, as expressed in co-determination. Read the article about Hill’s alternatives, but I will take a different branch off the capitalist tree.

Cooperatives - in the post-environment collapse, aka, global warming, resource depletion, peak oil – are likely to take on a different meaning.