ABSTRACT
Some people postulate that any scheme which is intended to reinforce solidarity in wage policy has got to make it possible to redistribute the ability to pay wages between firms and sectors, so they are unlikely to feel particularly satisfied with the solution which the employee investment funds offer. The growth of the funds is linked to profits. To the extent that profits arise in profitable enterprises because a policy of wage solidarity continues to be pursued in the future, these excess profits will gradually accrue to the whole employee collective. The employee investment funds can only counter the concentration of wealth in a quantitatively small part of our national assets: the companies sector. With a few exceptions, such as some insurance companies and the National Pension Fund, the institutions which manage portfolios of shares are not organised in a democratic fashion.
