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has been cited by the following article:
TITLE: Competition in a Democratic Firm System: Failures and Constraints
AUTHORS: Bruno Jossa
KEYWORDS: Labour Managed Firms, Failures, Solidarity, Comparative Economic Systems
JOURNAL NAME: Modern Economy, Vol.8 No.11, November 30, 2017
ABSTRACT: Considering that businesses face bankruptcy when their aggregate costs exceed their revenues, the cancellation of the largest production cost item—wages and salaries—in an employee-managed firm system is an effective safeguard against bankruptcy. For this and other reasons, the author argues that risks of insolvency are unlikely to scare democratic firms into accepting the capitalistic logic of cut-throat competition.