Federal Reserve Article Takes Positive View of ESOPs

The June 2007 issue of the Federal Reserve Bank of Minneapolis's The Region contains an article by Ronald Wirtz titled Employee Ownership: Economic Miracle or ESOPs Fable? Wirtz writes that "research to date suggests that...firms that offer some form of ownership or other worker-reward system have demonstrated impressive performance, possibly better than those that don't." The paper relies heavily on recent research from the National Bureau of Economic Research the NCEO reviewed in an earlier update.