El trabajo en un mundo de capitalismo financiero

La hostilidad tradicional entre sindicatos y el mundo de las finanzas no debe ocultar su interés común en utilizar instrumentos financieros de forma expansiva y creativa. Vivimos en una época de capitalismo financiero y la única manera inteligente de avanzar -para los sindicatos y otras asociaciones de trabajadores-es que estas agrupaciones ayuden a sus miembros a hacer un uso cada vez más sofisticado de las herramientas de gestión del riesgo.

Las fronteras tradicionales entre trabajo y capital se están borrando. Por ejemplo, las empresas incluyen con mayor frecuencia opciones sobre acciones en sus paquetes salariales normales, incluso para los empleados de base. En los Estados Unidos, el Departamento del Trabajo informa que en 2003 al 14% de los trabajadores en empresas con 100 o más empleados se les ofrecieron opciones sobre acciones. Es de esperar que haya más de esos paquetes en el futuro.

El problema es que la mayoría de los empleados no entienden bien las acciones y no saben cómo evaluarlas. Un trabajo reciente de los profesores del MIT Nittai Bergman y Derk Jenter indica que los directores tienden a otorgar opciones a los empleados cuando éstos se muestran excesivamente optimistas sobre las perspectivas de las acciones de la empresa -y así, de hecho, sustituyen de manera oportunista opciones sobrevaluadas por salario completo.

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