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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

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Abstract

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
Official URL: http://www.accedoverlag.de/en/2006/12/homo-oeconom...
Additional Information: © 2002 Accedo
Library of Congress subject classification: H Social Sciences > HC Economic History and Conditions
Sets: Research centres and groups > LSE Global Governance
Collections > Economists Online
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 17 Jul 2008 13:05
URL: http://eprints.lse.ac.uk/7309/

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