Worker owned corporations don't work for the same reason communism doesn't work. "Bad" actors (in this case people who are bad with money) will simply sell the

Worker owned corporations don't work for the same reason communism doesn't work. "Bad" actors (in this case people who are bad with money) will simply sell their share of the company for short term household needs, which will begin the process of consolidating company ownership in the hands of more frugal/savvy owners. Then in the end you simply end up with the same ownership distribution as it exists today.