"The Theory of Labour-Managed Firms and of Profit Sharing"
by Meade, J E (1972)
ONE important problem in industrial economics which deserves more attention from economic theorists than it has received in the past is the effects of different forms of industrial organisation upon economic efficiency. To take one such question, what would happen if workers hired capital instead of capitalist entrepreneurs hiring workers? Professor J. Vanek has recently made an important contribution to this subject. Building on the work of two other economists, 2 he has produced a full-scale textbook on the theory of labour-managed …
KeywordsLabour-Managed Firms, Profit Sharing, Industrial Economics, Economics, Cooperatives, Firms
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