In this book, Gregory K. Dow asks the question: “Why are labor managed firms rare in modern economies?” Dow emphasizes the fact that capital is alienable while labor is inalienable. This distinction, together with market imperfections, explains the rarity of labor-managed firms. This book uses modern microeconomics, develops formal models, exploits up-to-date empirical research, and … Read More
Many explanations for the rarity of workers’ control have been offered, but there have been few attempts to assess these hypotheses in a systematic way. This book draws upon economic theory, statistical evidence, and case studies to frame an explanation.