He doesn\’t seem to understand what he\’s talking about:
By removing the regulatory barriers to worker buy-outs of failing firms we could generate wealth and ownership among the low-waged, and stop firms from going to the wall.
A company that has no market for its production is still bust whether the workers own it or not. What is this wibble?
And what does he think happens when a firm does fail? Are the assets destroyed? No, they\’re redeployed to other, higher value, uses. This is the very definition of wealth creation: the movement of resources from lower to higher value uses.
He seems entirely ignorant.