The Labor-Managed Firm: Theoretical Foundations

ISBN-13: 9781107589650 / Angielski / Miękka / 2019 / 429 str.

Gregory K. Dow

Opis

This book uses economic theory to argue that labor-managed firms are rare due to market failures rather than any inherent organizational defects.

Recenzje

'This is a lovely book, and one we have needed for several decades. It offers a genuinely novel perspective on the theory of labor-managed firms, informed at every step by a careful attention to empirical findings and by the institutional makeup of real-world worker cooperatives and employee-owned firms. Dow has spent some thirty years thinking about these issues, and brings his work together in an impressive whole. It will redefine the theoretical and empirical research agendas, as well as providing an invaluable text in support of a postgraduate course on economic democracy.' Virginie Pérotin, University of Leeds

Spis treści

Part I. Setting the Stage: 1. The puzzling asymmetry; Part II. Perfection and Symmetry: 2. Profit maximization and control rights; 3. The labor-managed firm in the short run; 4. The labor-managed firm in the long run; 5. The labor-managed firm in general equilibrium; Part III. Imperfection and Asymmetry: 6. Empirical asymmetries (I); 7. Empirical asymmetries (II); 8. The rarity of labor-managed firms; Part IV. Appropriation Problems: 9. Imperfect appropriation; 10. Firm formation with adverse selection; 11. Partnership markets with adverse selection; Part V. Public Good Problems: 12. Collective choice and investor takeovers; 13. Free riding and employee buyouts; Part VI. Opportunism Problems (I): 14. Transaction cost economics; 15. Firm-specific investments; Part VII. Opportunism Problems (II): 16. Asset ownership and work incentives; 17. Capital stocks and labor flows; 18. Honest and dishonest controllers; Part VIII. Synthesis and Agenda: 19. Breaking the symmetry; 20. Policy directions.