Producer cooperatives (hereafter, PC) have existed in Western economies since the advent of the factory system. The oldest surviving PCs in the U.K. and Italy are over one hundred years old. By analyzing the theoretical properties of PCs, economists hope to assess whether popularization of the PC form, or transplantation of some of its characteristics into other organizations, would benefit or harm social welfare.
Using data for various years, including new data for 1973 through 1984, the scope, nature, determinants, and effects of employee stock ownership plans (ESOP) in Japan are examined.
In global competition, where investment increasingly determines a company’s capacity to upgrade and innovate, the U.S. system does not measure up.
There are a number of ways to have workers’ remuneration linked more readily with firms’ commercial performance. One is to link wages to profits by using cash-based profit sharing (where workers are made cash payments which vary with employer’s profitability). A second is to have workers paid partly in their firms’ own shares. A third, and more extreme alternative, is producer co-operatives where workers participate in profits, ownership and decision-making. In this article we examine both the theoretical and empirical evidence in support of such schemes.
When this book was first published in 1990, there were massive economic changes in the East and significant economic challenges to the West. This critical analysis of democratic theory discusses the principles and forces that push both socialist and capitalist economies toward a common ground of workplace democratization. This book is a comprehensive approach to … Read More
This paper explores employee ownership as a financial investment rather than a mechanism of control. Viewed from such a perspective, relations among employee ownership, satisfaction, and desired influence are more complex than supposed.
This essay, devoted to explaining the financed-capitalist plan, is an attempt to advance our practical thinking about capitalism. It does not add anything except evidence of feasibility to the theory of capitalism as outlined in our earlier book.