Economics of participation

Economics of participation is an umbrella term spanning the economic analysis of worker cooperatives, labor-managed firms, profit sharing, gain sharing, employee ownership, employee stock ownership plans, works councils, codetermination, and other mechanisms which employees use to participate in their firm's decision making and financial results. A historical analysis of worker participation traces its development from informal profit sharing in U.S. factories, to flexible remuneration in the aftermath of Industrial Revolution and to staff democracy's application for earning stability in economic downturns during the 21st Century.

Source: Wikipedia — Economics of participation (CC BY-SA 4.0)