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Cyclical Variations in the Labour Input : A Comparision of Capitalist and Labour Managed Firms


  • Stewart, Geoff


An important question is whether the responses to cyclical variations in demand are different for a capitalist firm (CF) and a labour-managed firm (LMF) within a particular economy. The focus of this paper is how a given change in the labour input would be divided between it's three components : employment, hours and effort. The existence of a bilateral monopoly in the F employment relation, together with a differing response to a deterioration in the labour market, leads us to conclude that, relative to the CF, the LMF will reduce effort more and employment less in a downturn.

Suggested Citation

  • Stewart, Geoff, 1983. "Cyclical Variations in the Labour Input : A Comparision of Capitalist and Labour Managed Firms," The Warwick Economics Research Paper Series (TWERPS) 226, University of Warwick, Department of Economics.
  • Handle: RePEc:wrk:warwec:226

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