chapter  8
27 Pages

Asset Formation

The new industrial wealth and its unjust distribution is the central problem to which the trade union demand for asset formation for workers addresses itself. The principal aim of this demand is to create for workers wealth and savings in the accumulation of corporate assets, supplementary to and not in lieu of employment earnings. Asset formation is a natural advance of the labour movement's traditional struggle to achieve greater economic and social justice, which are preconditions of real political freedom and equality, and at the same time it is a move in the direction of new forms of sharing in the capital which working people have helped create. Such reforms will also help mitigate the socially dangerous repercussions of the growing imbalance between capital growth and private personal consumption.