Why Capital Hires Labour and Why Labour Does Not Hire Capital

Meghnad Desai and Manfred J. Holler
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Meghnad Desai: London School of Economics, London, United Kingdom
Manfred J. Holler: University of Hamburg, Institute of SocioEconomics, Hamburg, Germany

Homo Oeconomicus, 2002, vol. 18, 429-436

Abstract: It is shown that in an economy with non-marginal set-up costs on the capital side, which imply a minimum requirement of capital, 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.

Date: 2002
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