Only if that company is publicly traded. Even then, if it is, acquiring ownership comes through spending capital, not by virtue of having control over yourself and what you do.
Would you prefer it if instead workers were paid in equity, and needed to use the public markets if they want to convert equity to cash?
(The difference between this scenario and the current status quo is only $8/trade and a few mouse clicks, so I'd love to hear why you think this distinction matters.)
> Would you prefer it if instead workers were paid in equity, and needed to use the public markets if they want to convert equity to cash?
No, I would not.
> The difference between this scenario and the current status quo is only $8/trade and a few mouse clicks,
No, it is not. Again, not all companies are publicly owned.
> so I'd love to hear why you think this distinction matters.
Cash does not equal control. Equity equals control. Seriously, we're on Hacker News: how much discussion goes into equity splits between founders? Why do you never give your initial employees very much equity? Why do we discuss term sheets so much?
You're being silly, you comment here way too much not to know this.
(oh, and for an answer: I prefer that the workers are paid however the workers want to be paid. For me, personally, cash as well as an equity stake of some kind. As one real-life example, please see http://www.redandblackcafe.com/the-red-black-cafe-is-hiring/ which lays out one possible situation and has been going for the last 12 years. Also, of course, http://en.wikipedia.org/wiki/Mondragon_Corporation which has 14b euro in revenue and employs 84,000 people.)
If workers were paid in equity, they would have say in the company proportional to the value of their contribution to the company (modulo politics, etc).
But what if some workers are willing to give up "say" in the in return for cash? Should they be prevented from doing so? Should employees be paid in restricted stock, receiving cash only when their company issues dividends?
Note that as an employee of a public company who doesn't buy any shares, I've revealed that I prefer cash to voice. Why do you feel you know better about how I should handle my finances and working arrangements?
>Why do you feel you know better about how I should handle my finances and working arrangements?
I don't say that I know better objectively. I'm merely stating my preference, which might, or might not be better than your preference.
And it could even be better than letting everyone have it his own way (just as it could also be worse). I guess it remains to be proved.
Sometimes, you see, one specific idea is better overall than just letting each person decide. For example, with respect to theft we don't let each person have their preference about it: we deem it illegal, and that's it.
So, this "the individual above everything else" thing. I don't care much for it. And a lot of societies don't, e.g in Europe. Some people, and some societies prefer the "benefit of society above all".
Which might, or might not, coincide with the maximum benefit of a specific individual. That's what politics is about.
Would you prefer it if instead workers were paid in equity, and needed to use the public markets if they want to convert equity to cash?
(The difference between this scenario and the current status quo is only $8/trade and a few mouse clicks, so I'd love to hear why you think this distinction matters.)