But society already values flexibility as well. As a basic example, I was hired in my current job in large part because I have a relatively broad range of skills within my field, rather than being hyper-specialized in one particular thing. Sure, in an abstract world where replacing employees is frictionless and firms are all megacorps with tens of thousands of employees (or more), tremendous specialization would probably be more commonplace. But in our real world, companies value flexible employees who can respond to changing projects, requirements, conditions, etc., because just firing and hiring a new specialist costs times and money, and many companies (startups especially) can’t afford having thousands of specialists in every niche they touch upon.
Further, even specialists have to communicate and collaborate with other specialists, and they need to be able to understand each other well enough to do so. If you wanted to build robotics to pick tomatoes automatically, for instance, it would be ridiculous to hire one tomato farmer and one roboticist who know nothing about each other’s respective specializations. If neither has any flexibility or breadth of knowledge, it will be very difficult for them to communicate and collaborate to get the project working.
I agree that I think worker coops elegantly solve certain problems (notably the principal-agent problem), but they also have certain drawbacks. Notably, they have more difficulty raising funds, they tend to be more risk-averse, they tend to be more growth-averse (people don’t like to dilute their own stake within the company with more people, but this means they don’t typically scale as easily or quickly to benefit economies of scale), and they tend to pay worse than hierarchical companies (counterintuitive as that may seem at first if the whole goal of market socialism is to have workers get more of their value back).
So is the solution to just throw our hands up and say, “Screw it, nothing we can do but let hierarchical organizations win”? Not quite. We still do see plenty of successful coops, notably in the form of credit unions. We also have unions and syndicalist solutions. We still have minimum wages (which are supported by most economists, as it turns out you can raise minimum wages a certain amount without raising unemployment because there’s often a non-zero amount of monopsony power in the labor market).
Further, I do think a Georgist system would empower labor much more than now. Without a housing crisis (thanks to LVT and YIMBYism), with a citizen’s dividend, with quality public education (education has positive externalities and thus deserves a Pigouvian subsidy), with more jobs (thanks to more economic growth and less rent-seeking), and with public works projects (essentially Pigouvian subsidies for things like environmental cleanup), I think labor would have much more bargaining power with employers.
For instance, the professional class right now gets good pay and generally good quality of life , despite rarely having unions or worker coops, precisely because they have high negotiating power with prospective employers.
My inclination is to strive for a more Georgist system, encourage unions, use minimum wages and government spending technocratically, and then see if more is yet needed.