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Labor's last weapon against capital is its own capital.

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Labor's labor - the power provided by working people - why is it valuable? Why in the past was labor able to use that power to get concessions from management? It's very simple - management needed those workers to build their products. It's the same thing today with labor's capital - management needs that capital to build their products. Just as labor organized itself as labor, so to it should organize itself in terms of the significant pension funds it has.

Law professor David Webber explains how labor can wield its own capital, in the form of public employee pension funds, towards the advantage of its workers, and why its trillions of dollars already invested in the market are a powerful weapon that's already under attack by the wealthy who recognize its potential.

David is author of The Rise of the Working-Class Shareholder: Labor’s Last Best Weapon from Harvard University Press.

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David Webber

David Webber is a law professor at Boston University.

 

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