Labour Managed Market Economies
In fact, workers? management clearly postulates full economic autonomy for the enterprise. The only way in which its success or failure can properly be evaluated is through the free exchange, in competition on an equal footing with other producers, of the goods and services provides the only objective standard of performance. A competitive market is, therefore, an essential element for the practical operation of the system, even though it is by no means one of its objectives. Many of the most challenging puzzles in economics today turn on an understanding of how labour-managed firms work in different socio-economic and political atmosphere. LMF and self-managed market economy brings together new insights from about 34 leading economists in the world offering fresh understanding of the nature and general equalibrium of LMF, theory of labour-managed market economies, organisational structure of LMF, and salient features of self-managed economics institutions in this volume. The book exhaustively covers several other important aspects of labour managed market economy. It will serve as a valuable reference tool to the economists, social scientists, policy makers and research scholars interested in the study of problems of LMF and self-managed economy.
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