From Cibernética Americana
As commonly defined, means token ownership via shares in otherwise unaltered capitalist production based in the large on finance capital.
I define it as transformed production where workers and capital interact in society directly, with a complete divergence of these standard characteristics of the prevailing mode:
- Worker control. This is actually present in the prevailing mode as a stipulation when workers are not employees, in order to make clear that the contract worker has assumed all the responsibilities of an employer. This control factor is generally useful to distinguish actually free independent workers from various kinds of exploitative labor resale where the labor is sold as contracted or outsourced and the relation between the worker and exploiter/reseller is one of employee/employer. A free worker is strictly self employed.
- Labor paid by value rather than job time. Standard capitalist practice is like softened chattel slavery where the master/capital or its proxy rents rather than owns the worker. Much obfuscation is spewed to cover this core relation of master and slave but it inevitably makes itself felt sooner rather than later especially when workers take supposed freedoms, particularly ones suited to and hard won from an early stage of capital-labor relations, seriously and then encounter the reality of their status as (non-self) employees.
- Production for exchange as actual real reason for it. Standard capitalist firms ubiquitously proclaim that they are producing for society and are generally silent about their actual motive which is extraction of profit. Worker production may have the production of surplus value realized in exchange as an economic criterion of being actually productive but it is the use value of the thing produced that is the purpose of the activity and surplus via exchange is not in general a requirement for undertaking production.
- Distribution of produced value. Standard capitalist practice controls production only to the extent necessary to extract the produced surplus exchange value. In Worker Capitalism, this surplus, if it exists, is distributed among the producers according to self determined rules.