Resource title

Why capital hires labour and why labour does not hire capital

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Resource description

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.

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en

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Resource resource URL

http://eprints.lse.ac.uk/7309/

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