The General Theory of Labor-managed Market EconomiesMonograph presenting an economic theory in support of a new economic system based on workers' self-management (workers participation) - covers the equilibrium of a competitive enterprise and changing market conditions, the decentralization of decision making, labour supply functions, economic policy problems, 'income sharing' (wages) and wage incentive, the allocation of economic resources, legal aspects and basic institutional forms of the labour-managed economy, etc. Diagrams and references. |
Contents
An Overview | 1 |
Equilibrium of a Competitive Firm | 19 |
The Competitive Firm and Changing Market Conditions | 42 |
Copyright | |
18 other sections not shown
Common terms and phrases
actually adjustment aggregate allocation analysis assumption behavior capital stock capitalist firm ceteris paribus comparative statics competitive constant returns context corresponding cost course curve decline demand function diagram discussion e₁ effects enterprise equal equi factor factors of production Figure free entry given identical important income per laborer increase indicated industry inefficiency inputs investment isoquant L₁ labor force labor supply labor-managed economy labor-managed firm labor-managed system less level of output librium locus of maximum long-run equilibrium managed firm marginal physical product marginal product marginal value product maximization maximum physical efficiency monopolistic monopoly national product NLMA number of firms oligopolistic oligopoly operation optimal optimum perfect competition plane postulate preceding section problem product of labor product price production function rate of interest recall relation remuneration returns to scale second kind segment short-run situation slope social solution specific supply function theory tion variable workers X₁