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The term usually used to describe a business etc that is under the democratic control and management of the people who work their, that commonly have a practice of sharing the profit. Another common and famous phrase is by Karl Mark and Frederick Engels to describe such a situation is, 'Worker control of the means of production'.

Worker control is often advocated by people from center-left to left wing such as Socialist, Communist, Anarchists, Marxists, Christian Left and even some Social Democrats.

Note: Liberals are centrists and not to be confused with State Socialist to Stalinist's who advocate for state control instead of workers
Worker 1: "Man I hate my job so much, I feel like I don't have any power their or a lot of control over my life, what about you?"

Worker 2: "Well my company is worker controlled, so I have a say in all the stuff we do with the company, we even have a meeting tomorrow to find out if we should switch one of the materials that we use to something more safe."
by NotBad97 October 17, 2015
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