Affiliation:
1. University of Eastern Piedmont , Vercelli , Italy
Abstract
Abstract
This note starts from Hodgson’s (2023) thorough review and critique of Guild Socialism and argues that his proposed way forward—a decentralised producer cooperative sector embedded in a competitive market economy—is likely to be a political impossibility. A political economy model of a system of labour-managed firms is outlined which shows that laissez-faire on investment decisions is likely to be outvoted by a capital tax/subsidy scheme that redistributes income from rich coops to poor coops.
Publisher
Oxford University Press (OUP)
Subject
Economics and Econometrics
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