A Political and Economic Case for the Democratic Enterprise

Samuel Bowles and Herbert Gintis

Economics and Philosophy, 1993, vol. 9, issue 1, 75-100

Abstract: We consider two reasons why firms should be owned and run democratically by their workers. The first concerns accountability: Because the employment relationship involves the exercise of power, its governance should on democratic grounds be accountable to those most directly affected. The second concerns efficiency: The democratic firm uses a lower level of inputs per unit of output than the analogous capitalist firm.

Date: 1993
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