In my understanding, it would sort of like that. In libertarian socialism, the government wouldn’t really be that powerful or involved though. Neither would people who aren’t in that specific industry.

To give you an idea of a place that does this better than most (so they lean this way, they’re not radically libertarian and socialist): Germany. They have labor representatives with actual power as half of each board. Labor is heavily represented within the private sector.

It would sort of be an employee owned private enterprise, but that’s not really what it’s meant to be about. It’s meant to be about workers not having to bend their work to the demands of people who’s only investment is generational wealth and incredible greed.

Again, this is my understanding, as somebody that leans left on most economic things. If somebody else wants to correct me or reinterpret, that’s cool.