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PREFACE Arthur Seldon
PROPERTY RIGHTS AND INDUSTRIAL DEMOCRACY
THE IMPLICATIONS or BULLOCK
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analysis Arthur Seldon attenuation of property beneﬁcial beneﬁt board level Britain British Disease Bullock Committee Bullock Report capitalist cent co-determination co-operatives collective bargaining Committee’s Communist companies company law company’s competition conﬂict consequences consumer sovereignty costs decisions deﬁned difﬁcult discussed economic economists efficiency efﬁcient elected employee representation employee representatives employment enterprise European experience ﬁnancial ﬁnd ﬁrm ﬁrst Germany Gordon Tullock incentive incomes Incomes policy individual industrial democracy industrial relations inﬂation inﬂationary inﬂuence institutional investment labour-managed losses majority report market economy market socialism ment organisers owners political possible private ownership production Professor proﬁtable proﬁts property rights Ralph Harris recognise reﬂect residual rewards responsibility result risk role savings self-management share shareholders signiﬁcant social speciﬁc structure terms of reference Theory tion trade unions University of Nottingham Vanek wages worker participation worker-managed workers as consumers wtrk Yugoslav Yugoslavia