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The Cooperative Way

In: James Edward Meade

Author

Listed:
  • David Reisman

    (Nanyang Technological University
    University of Surrey)

Abstract

Meade’s search for a Third Way, neither pure capitalism nor pure statism, led him to the cooperative enterprise on the model of Mondragon in Spain and the John Lewis Partnership in Britain. The suppliers of labour power and capital alike would share in ownership and in the profits. This would make industrial relations more harmonious and would boost efficiency by giving both sides of industry an incentive to do their best. Meade does not propose internal democracy through allowing the workers to choose their supervisors or the board of directors. He expects that the unions will continue to represent their members should internal disputes arise. As attachment is easier in a small firm; it is another reason to look carefully at the economies of scale that economists like Galbraith attribute to the large corporation.

Suggested Citation

  • David Reisman, 2018. "The Cooperative Way," Great Thinkers in Economics, in: James Edward Meade, chapter 10, pages 219-231, Palgrave Macmillan.
    • Handle: RePEc:pal:gtechp:978-3-319-69281-4_10
    DOI: 10.1007/978-3-319-69281-4_10
    as

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