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E-raamat: Democratic Worker-Owned Firm (Routledge Revivals): A New Model for the East and West [Taylor & Francis e-raamat]

  • Formaat: 238 pages
  • Sari: Routledge Revivals
  • Ilmumisaeg: 13-Feb-2015
  • Kirjastus: Routledge
  • ISBN-13: 9781315709062
  • Taylor & Francis e-raamat
  • Hind: 166,18 €*
  • * hind, mis tagab piiramatu üheaegsete kasutajate arvuga ligipääsu piiramatuks ajaks
  • Tavahind: 237,40 €
  • Säästad 30%
  • Formaat: 238 pages
  • Sari: Routledge Revivals
  • Ilmumisaeg: 13-Feb-2015
  • Kirjastus: Routledge
  • ISBN-13: 9781315709062

When this book was first published in 1990, there were massive economic changes in the East and significant economic challenges to the West. This critical analysis of democratic theory discusses the principles and forces that push both socialist and capitalist economies toward a common ground of workplace democratization.

This book is a comprehensive approach to the theory and practice of the "Democratic firm" – from philosophical first principles to legal theory and finally to some of the details of financial structure. The argument for economic democracy supports private property, free markets and entrepreneurship for instance, but fundamentally it replaces the employer/employee relationship with democratic membership in the firm.

For students, teachers, policy makers and others interested in the application of democracy to the workplace, this book will serve as a manifesto and a standard reference on the topic.

Introduction
Capitalism, Socialism, and Economic Democracy
1(4)
Outline of the Approach
5(4)
Part I: Theory of the Democratic Firm
1 The Labor Theory of Property
Property Rights and the Firm
9(1)
The Fundamental Myth about Private Property
9(4)
Ownership of a Corporation is not "Ownership of the Firm"
13(1)
The Appropriation of Property
14(2)
The Normative Question of Appropriation
16(1)
"The Labor Theory" of Value-or of Property
17(1)
Is Labor Peculiar?
18(4)
Only Labor is Responsible
22(2)
Juridical Principle of Imputation = Labor Theory of Property
24(3)
What is Labor's Product?
27(3)
Entrepreneurship
30(4)
Property Theoretic Themes in Marxian Value Theory
34(5)
The Employment Contract vs. de facto Inalienability
39(5)
2 Democratic Theory
Democracy in the Firm
44(7)
The Enterprise as a Governance Institution
44(1)
Stakeholders: the Governed and the Affected
44(2)
Direct versus Indirect Control
46(1)
The Affected Interests Principle
47(1)
The Democratic Principle
48(1)
"Shareholders' Democracy"
49(2)
Democratic Socialism is not Democratic in the Enterprise
51(1)
The Public/Private Distinction in Democratic Theory
51(8)
Personal Rights and Property Rights
51(3)
Quarantining Democracy in the Public Sphere
54(1)
Redefining "Social" to Recast the Public/Private Distinction
55(1)
People-based versus Property-based Organizations
56(3)
Democracy Denied by the Employment Contract, not Private Property
59(5)
The Employment Contract
59(1)
Democratic and Undemocratic Constitutions
60(1)
Are Democracy and Private Property in Conflict?
61(3)
The De Facto Theory of Inalienable Rights
64(4)
3 The Democratic Firm
Theoretical Basis for the Democratic Firm
68(4)
The Democratic Principle and the Labor Theory
68(1)
Implementing the Democratic Principle in an Organization
69(2)
Implementing the Labor Theory in an Organization
71(1)
The Democratic Labor-based Firm
72(4)
Definition of the Legal Structure
72(2)
The Social Aspects of Democratic Labor-based Firms
74(2)
Capital Rights in Democratic Firms
76(19)
What About the Net Asset Value of a Corporation?
76(3)
Capital Accounts as Flexible Internal Debt Capital
79(2)
The Internal Capital Accounts Rollover
81(2)
A Collective Internal Capital Account
83(1)
Financing Internal Capital Account Payouts
84(1)
Participating Securities
85(3)
Mutual Funds for Participating Securities
88(1)
Do Democratic Firms Suffer a "Financial Disadvantage"?
89(6)
Part II: Worker Ownership in America and Europe
4 Worker Cooperatives
Introduction: Worker Ownership in America
95(1)
Worker Cooperatives in General
96(1)
Traditional Worker Stock Cooperatives
96(2)
Common-Ownership Firms in England
98(2)
Mondragon-type Worker Cooperatives
100(5)
The Mondragon Group of Cooperatives
100(1)
Implementing the Mondragon-type Co-op in America
101(2)
Risk Diversification and Labor Mobility
103(2)
5 Employee Stock Ownership Plans
ESOPs: An American Phenomenon
105(3)
Worker Capitalist Corporations
108(1)
Origin of ESOPs
109(2)
Structure of ESOP Transactions
111(2)
ESOPs in the United Kingdom
113(2)
Two Examples of ESOPs
115(1)
Democratic ESOPs
115(4)
Voting in a Democratic ESOP
115(1)
Internal Capital Accounts in a Democratic ESOP
116(1)
ESOPs and Cooperatives
117(2)
6 ESOP Analysis and Evaluation
The Ideology of the ESOP Movement
119(4)
Labor-based Aspects of Conventional ESOPs
123(3)
The Basic Contribution of the ESOP Idea
126(1)
Who Pays for ESOP Shares?
127(4)
7 Model of a Hybrid Democratic Firm
Introduction: A Simplified Model for Transplanting
131(1)
A Hybrid Mondragon-type Worker Cooperative
131(1)
An Internalized Democratic ESOP
132(1)
The Hybrid Democratic Firm
133(5)
The ESOP Transactions with an Internal ESOP
138(2)
The "Leveraged ESOP" Transaction
138(1)
The "Leveraged ESOP" Buyout Transaction
139(1)
Implementation Questions
140(1)
Management and Governance Structures
141(6)
Part III: Enterprise Reform in the Socialist World
8 Enterprise Reform in Yugoslavia and China
Introduction
147(1)
Yugoslavian Self-Management: Pitfalls of a Pioneer
148(8)
Social Property Problems
148(4)
A Decentralizing Model for Restructuring Socialist Firms
152(4)
The Chinese Enterprise Reforms
156(7)
Introduction
156(1)
Agricultural Reforms
157(1)
Lessons From Agriculture for Industry?
157(2)
The Factory Manager Responsibility System
159(2)
The Collective Sector
161(2)
9 Reforms in the USSR, Hungary, and Poland
Soviet Union: Gorbachev's Perestroika
163(14)
The Revival of Worker Cooperatives
163(2)
Leasing in Industry and Agriculture
165(3)
Lease Firms
168(1)
The State Enterprise Restructuring Law of 1987
169(1)
The Importance of Leasing
169(2)
Physical and Financial Leasing
171(1)
Using ESOP-type Financial Lease Transactions
172(2)
The New ESOP-type Worker Buyouts in the USSR
174(3)
Hungary: A Socialist Wall Street?
177(4)
Introduction: The NEM Reforms
177(1)
Analysis and Criticism of the NEM
178(1)
Paths to Worker Ownership
179(2)
Poland: Self-Management and Solidarity
181(3)
Introduction
181(1)
The Self-Management Councils
181(3)
10 Analysis of the Socialist Enterprise Reforms
Socialist Enterprise Reform Programs: Where Are They Going?
184(1)
The "Two Socialisms" and the "Two Capitalisms"
185(2)
Evolution of the Socialist Enterprise Reform Programs
187(5)
Collective Contracts
187(1)
Enterprise Responsibility System
187(1)
Agricultural Family Responsibility Systems
188(1)
Industrial Enterprise Leasing
188(2)
Financial Leasing?
190(1)
The Social Property Compromise
191(1)
Property Rights Analysis of the Socialist Reforms
192(15)
The Liabilities Cancellation Metaphor
192(3)
The "Two Pockets" Principle
195(3)
Is an Equity Market Necessary for Efficient Capital Allocation?
198(4)
Is an Equity Market Necessary for Efficient Risk Allocation?
202
Conclusion
Economic Democracy as a Third Way
206(1)
First Principles
207(4)
The Labor Theory of Property
207(2)
Democratic Theory
209(2)
The Democratic Firm
211(1)
Worker-owned Companies in the USA and Europe
212(1)
The Socialist Enterprise Reform Programs
213(1)
The Democratic Firm and East/West Convergence
214(1)
References 215(7)
Index 222
David Ellerman