Syndicalist types who are serious about implementing workplace democracy need to get over their aversion to finance and engage seriously with it as a practical discipline, not just as a rhetorical tackling dummy. Capital appropriates the whole product legally because it assumes the liabilities of production, and if workers want to appropriate the whole product we have to know how to assume those liabilities intelligently and have some notion of how to bend finance to a moral end.

@unlearnedhand any reading materials that you could recommend to learn more about what this means in practice?

For fundamental theory, Ellerman's _Economics, Accounting, and Property Theory_ is super lucid but also extremely general. Thomas & Logan's book on Mondragon is a pretty good case study. Once you have the concepts to orient by, any of the usual texts on corporate finance can be mined out for understanding of how these things work in a capitalist context and some notions can be ported over, e.g. Brealy's _Corporate Finance_ (which I haven't read yet).

On a more 'big picture' level there are things to be learned from Hyman Minsky, Fischer Black and Eugene Fama (listed in increasing order of size of grain of salt required). But for nuts and bolts you really just have to start picking up finance jargon that you don't understand and reading about it, it's a pretty CYOA self-education process like most things.

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