Why Capital Hires Labour, and Why Labour does Not Hire Capital
AbstractIt is shown that in an economy with production indivisibilities on the capital side, 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.
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Bibliographic InfoPaper provided by University of Hamburg, Institute of Economics in its series Faechergruppe Volkswirtschaftlehre with number 87.
Length: 11 pages
Date of creation: 1995
Date of revision:
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Postal: Institute of Economics, University of Hamburg, Von-Melle-Park 5, D-20146 Hamburg F.R.G
Phone: +49 (0)40 6541 2590
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Web page: http://www.hsu-hh.de/fgvwl/
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PRODUCTIVITY ; CAPITAL ; CAPITAL MOVEMENTS ; LABOUR;
Find related papers by JEL classification:
- J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand
- D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
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