Labour-Managed Firms and Imperfect Competition

Pienkos, Andrew;Steinherr, Alfred;Vanek, Jaroslav
(1975) , 13 pages

Files

WP-7516.pdf
  • Open Access
  • Adobe PDF
  • 386.64 KB
Download

Details

Authors
  • Pienkos, AndrewCornell University
    Author
  • Steinherr, AlfredUCLouvain
    Author
  • Vanek, JaroslavCornell University
    Author
Abstract
In a recent contribution to the Economic Journal, Professor Meade (1974) analyzed the behavior of the labour-managed (LM) firm under conditions of imperfect competition and reconfirmed the results previously obtained by Vanek (1970) and Ward (1958). The three well-known conclusions emerging from such neoclassical analysis are that (1) an elasticity preserving increase in demand will cause a decline in the output of the LM firm; (2) the LM firm will employ less lab or with a given stock of capital and hence produce less and (3) a reduction in financial charges on fixed financial debts of the firm tends to reduce the optimal level of employment in the firm.
Affiliations

Citations

  • APA
  • Chicago
  • FWB

Pienkos, A., Steinherr, A., & Vanek, J. (1975). Labour-Managed Firms and Imperfect Competition (Working Papers Institut des sciences économiques 7516). https://hdl.handle.net/2078.5/275875