This will allow existing businesses to continue, but people without jobs or means still have no way to enter the labor market.

So the employees seize the factory. A thousand workers now each own a 0.1% stake.

Who decides when to upgrade the machinery? Who decides how much to produce? Who decides when to take out a loan and expand? Who makes the difficult decision in lean times to reduce the size of the business to survive, rather than keeping everyone on payroll and risking bankruptcy? What if a worker decides to stop working and count on getting income by eventually selling their ownership stake?

In theory, these questions could be decided by voting and volunteering. In practice, some people are better qualified to make these kind of decisions, and businesses run by more competent leaders have a better chance of success. Imagine an army that decided on tactics and strategy by voting.

Most worker cooperatives appear to be quite small, but it's possible that their worker/owners are happy. As a consumer, I am happy to buy flour from a benefit corporation, but I wouldn't want to give up automobiles or broadband internet.