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The Rise of the Working-Class Shareholder By David Webber

The Rise of the Working-Class Shareholder
by David Webber

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David Webber shines a light on labor's most potent remaining weapon: its multitrillion-dollar pension funds. Outmaneuvered at the bargaining table and in the courts, state houses, and Washington, worker organizations are beginning to exercise muscle through markets. Shareholder activism is a rare good-news story for America's workers.
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The Rise of the Working-Class Shareholder Summary


The Rise of the Working-Class Shareholder: Labor's Last Best Weapon by David Webber

When Steven Burd, CEO of the supermarket chain Safeway, cut wages and benefits, starting a five-month strike by 59,000 unionized workers, he was confident he would win. But where traditional labor action failed, a novel approach was more successful. With the aid of the California Public Employees' Retirement System, a $300 billion pension fund, workers led a shareholder revolt that unseated three of Burd's boardroom allies. In The Rise of the Working-Class Shareholder: Labor's Last Best Weapon, David Webber uses cases such as Safeway's to shine a light on labor's most potent remaining weapon: its multitrillion-dollar pension funds. Outmaneuvered at the bargaining table and under constant assault in Washington, state houses, and the courts, worker organizations are beginning to exercise muscle through markets. Shareholder activism has been used to divest from anti-labor companies, gun makers, and tobacco; diversify corporate boards; support Occupy Wall Street; force global warming onto the corporate agenda; create jobs; and challenge outlandish CEO pay. Webber argues that workers have found in labor's capital a potent strategy against their exploiters. He explains the tactic's surmountable difficulties even as he cautions that corporate interests are already working to deny labor's access to this powerful and underused tool. The Rise of the Working-Class Shareholder is a rare good-news story for American workers, an opportunity hiding in plain sight. Combining legal rigor with inspiring narratives of labor victory, Webber shows how workers can wield their own capital to reclaim their strength.

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The Rise of the Working-Class Shareholder Reviews


The Rise of the Working-Class Shareholder is a thoughtful, well-written, and well-researched volume. It should be read by any who are interested in learning more about capital stewardship and shareholder activism. It highlights the way that today's labor movement can leverage its capital to serve its members, communities, and the economy. Labor cannot afford to leave any of these strategies on the table. Webber's book provides a useful guide to how shareholder activism can and should be used.-- (01/01/2019)
Where Webber's book shines is in demonstrating how labor's capital already influences the working of the financial system, notably in its efforts to improve governance.--Owen Davis"Dissent" (10/16/2018)
A riveting, thorough, and thoughtful book that is not only a fast and fun read, but contributes wonderfully to a new and ongoing conversation about inequality, dark money, and populism in the electorate.--Mehrsa Baradaran, author of The Color of Money: Black Banks and the Racial Wealth Gap
In The Rise of the Working-Class Shareholder, David Webber shares the inspirational story of a group of ingenious individuals who discovered a new source of power for the labor movement: shareholder activism. Webber provides a compelling new legal and policy framework for using labor's capital to advance members' interests both as workers and as investors saving for retirement.--Jennifer Taub, Vermont Law School

About David Webber


David Webber is a law professor at Boston University, where he won the 2017 Michael Melton Award for Teaching Excellence. He has published op-eds in the New York Times, Washington Post, Chicago Tribune, and Reuters, and has been interviewed by television, radio, and print media, including Nightly Business Report, NPR's Marketplace, Knowledge@Wharton Business Radio, Agence France-Presse, Reuters, and others.

Additional information

GOR010439905
The Rise of the Working-Class Shareholder: Labor's Last Best Weapon by David Webber
David Webber
Used - Very Good
Hardback
Harvard University Press
2018-04-27
352
0674972139
9780674972131
N/A
Book picture is for illustrative purposes only, actual binding, cover or edition may vary.
This is a used book - there is no escaping the fact it has been read by someone else and it will show signs of wear and previous use. Overall we expect it to be in very good condition, but if you are not entirely satisfied please get in touch with us.