Why capital hires labour and why labour does not hire capital

Desai, M. & Holler, M. J. (2002). Why capital hires labour and why labour does not hire capital. Homo Oeconomicus, 18(3/4), 429-436.
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It is shown that in an economy with non-marginal set-up costs on the capital side, which imply a minimum requirement of capital, production may be carried out by capitalist firms only, irrespective of the fact that workers can exchange work for capital so that labour-managed production seems feasible.
Item Type Article
Copyright holders © 2002 Accedo
Departments LSE
Date Deposited 17 Jul 2008
URI https://researchonline.lse.ac.uk/id/eprint/7309

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