Post AFIlaYqukYWAeaKdLk by LeoSammallahti@social.coop
 (DIR) More posts by LeoSammallahti@social.coop
 (DIR) Post #AFIeqgmsJhCsDXBa7c by LeoSammallahti@social.coop
       2022-01-10T14:06:12Z
       
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       I am bullish on France. They have an amazing and booming cooperative and solidarity economy sector.For example, all companies with over 50 employees are required to provide employees an option for "solidarity savings accounts" that invest 5-10% of their savings into solidarity economy enterprises. Over 1 million people have already opt in, with assets compounding and booming.The largest such funds are managed by cooperative banks, that make up 60% of the country's banking sector.
       
 (DIR) Post #AFIeqhDohWl1Z5n67E by lain@lain.com
       2022-01-10T14:26:41.726383Z
       
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       @LeoSammallahti what are solidarity economy enterprises?
       
 (DIR) Post #AFIlaYqukYWAeaKdLk by LeoSammallahti@social.coop
       2022-01-10T15:41:25Z
       
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       @lain Mostly cooperatives, mutuals and other similarly organised enterprises. They need to have a pay ratio cap and distribute certain minimum of surplus either to members or charitable organisations.
       
 (DIR) Post #AFR8SC114wYFTqZrWa by freakazoid@retro.social
       2022-01-13T13:12:23Z
       
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       @cjd The history of forced investment is pretty bad. In the US back when banks were regulated entirely by states, a number of states mandated that some fraction of banks’ assets were invested in the state’s bonds. Those states had much higher default rates than others.Mandatory investment = no market discipline.
       
 (DIR) Post #AFR8SCVVFawD0OqD2m by cjd@mastodon.social
       2022-01-13T16:06:33Z
       
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       @freakazoid Something to understand about France is that it is a highly "regulated" country / culture. There are watchers and watcher-watchers watching the watchers and watcher-watcher-watchers watching them. So stuff that would blow up fantastically in a place like the US is able to remain stable.
       
 (DIR) Post #AFR8SD7mxFYwv8kmie by freakazoid@retro.social
       2022-01-13T19:05:14Z
       
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       @cjd I would submit that they just blow up in different ways. Like that time they tried to legislate a 35 hour work week. Or the fact that they're terrible at integrating immigrants.
       
 (DIR) Post #AFR8SDcd6aEUSnBPn6 by cjd@mastodon.social
       2022-01-14T04:59:05Z
       
       1 likes, 0 repeats
       
       @freakazoid I wouldn't use the words "blow up", but yes, French society has some issues. The biggest IMO is lack of social mobility. In this system your opportunities are pretty much decided at birth, so if you're smart and hard working but have the wrong father, you move to the US.