Property Rights, Asset Specificity, and the Division of Labour under Alternative Capitalist Relations
Is the division of labor under capitalism because of transaction and technological efficiency or because of inefficient capitalist property rights? The answer of this paper is that under "classical" capitalism there is an inefficient division of labor because of underinvestment in asset-specific labor which can be improved by expanding workers' rights in two different ways defining "company workers" and "unionized" capitalism. An implication of the analysis is that markets, far from being the selection mechanism where efficient institutions evolve, may imply the reproduction of inefficient property rights and be shaped by them. Copyright 1991 by Oxford University Press.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Volume (Year): 15 (1991)
Issue (Month): 3 (September)
|Contact details of provider:|| Postal: Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK|
Fax: 01865 267 985
Web page: https://academic.oup.com/cje
|Order Information:||Web: http://www.oup.co.uk/journals|