Freakonomics Radio
587. Should Companies Be Owned by Their Workers?
May 9, 2024
In this discussion, Pete Stavros, co-head of Global Private Equity at KKR, advocates for employee ownership as a transformative model, while Corey Rosen, founder of the National Center for Employee Ownership, emphasizes the potential of ESOPs to create a fairer economy. Marjorie Kelly, a critic of private equity, shares insights on its effects on workers. They delve into the complexities of employee ownership, its potential benefits, and the challenges it faces, questioning whether these initiatives are genuine change or merely a façade in the corporate landscape.
46:33
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Quick takeaways
- Private equity firm KKR's introduction of partial employee ownership is a positive step towards profit-sharing with employees.
- Critics highlight concerns that KKR's ownership model may not truly empower employees like traditional ESOPs.
Deep dives
Evolution of Colberg-Kraviss Roberts to KKR
Colberg-Kraviss Roberts (KKR) has transitioned from being portrayed as 'barbarians' during their leveraged buyout of RJ Nabisco to becoming the world's second largest private equity firm after Blackstone, now with over 250 firms in their investment portfolio and nearly a million employees.
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