Why capital hires labour and why labour does not hire capital
Desai, Meghnad; and Holler, Manfred J
(2002)
Why capital hires labour and why labour does not hire capital
Homo Oeconomicus, 18 (3/4).
pp. 429-436.
ISSN 0943-0180
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 |
|---|---|
| Departments | LSE |
| Date Deposited | 17 Jul 2008 13:05 |
| URI | https://researchonline.lse.ac.uk/id/eprint/7309 |
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