The economic theory of socialism and the labour-managed firm
Subtitle: markets, socialism, and labour management
By: Bruno Jossa, Gaetano Cuomo.
Contributors: Cuomo, Gaetano, 1954-
Publisher: E. Elgar
Published: 1997
Place of publication: Cheltenham, UK; Brookfield, Vt
Language: eng
Number of pages: 376
Subjects: Socialism -- Economic aspects.; Employee ownership.; Industrial management -- Employee participation.
Description: The Economic Theory of Socialism and the Labour-managed Firm focuses on market socialism and the relevant debate among economic theorists. It argues that market socialism is the only rational form of socialism and that market socialism with labour-managed firms is by far the best form of market socialism.

The book begins with a critical review of the contributions to the economic theory of socialism. The second part discusses the economic theory of labour-managed firms and pays particular attention to the adverse labour-supply curve, underinvestment, monitoring and the separation of ownership and control. The final chapters discuss problems such as the control of economic activity in labour-managed firms, worker motivation and incentives.
Notes: Includes bibliographical references (p. 323-368) and index.
Partly translated from Italian by Niall O'Higgins and Aloisia Rigotti.