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While co-determination is not without its strengths — Germany is still a rich, productive country — it fails as a model for creating new, fast-growing companies.

When Steve Jobs took over Apple in 1996, for instance, he famously forced the resignation of most of its board of directors, installing close friends who would be loyal to his vision. He then proceeded to lay off 3,000 workers and shuttered a number of the company’s biggest boondoggles. This earned him a reputation for ruthlessness, but it also set Apple on the path to become America’s first trillion-dollar company. It’s simply impossible to imagine Jobs’s unilateral vision succeeding in an environment of constant stakeholder management and worker negotiation.

This earned him a reputation for ruthlessness, but it also set Apple on the path to become America’s first trillion-dollar company. It’s simply impossible to imagine Jobs’s unilateral vision succeeding in an environment of constant stakeholder management and worker negotiation.

I problemi del capitalismo oggi

Stagnant wages, meanwhile, are largely the result of a secular decline in economy-wide productivity — a force that the country’s biggest, most productive firms are actively fighting against. Indeed, as Michael Lind and Robert Atkinson note in their recent book Big Is Beautiful, productivity growth in any era tends to be driven by a handful of highly innovative frontier companies at one end of the size distribution. Workers in large firms, for instance, earn on average 54 percent more than their small-business counterparts