The labor-managed firm, Jaroslav Vanek and me

Abstract

PurposeThe purpose of this article is to summarize the relationship between the research of Jaroslav Vanek on labor-managed firms (LMFs) and the research of Gregory K. Dow on the same topic.Design/methodology/approachThe article reviews the research of Jaroslav Vanek in the 1970s and explains how this influenced the publications of Gregory K. Dow extending from the 1980s to the present. A particular focus involves Dow's book “The Labor-Managed Firm: Theoretical Foundations” published by Cambridge University Press in 2018. The methodology is to present an intellectual history in narrative form. The scope of the paper is the economic theory of the LMF.FindingsThe article finds that Dow's interest in LMFs was stimulated by Vanek's publications from the early 1970s. However, Dow's publications in the 1980s were motivated to a large degree by efforts to overcome the limitations of Vanek's theory of the LMF, a goal that shaped much of Dow's later research in the field.Originality/valueThe paper illuminates the strong intellectual influence Jaroslav Vanek exerted on the economic theory of the LMF. Readers who want information about the influences on Dow's work may also find it useful.

Open Team Production, the New Cooperative Firm, and Hybrid Advantage

“…), producers (e.g., primary producer co-ops, shared services co-ops, and retailer co-ops), producers and consumers (e.g., credit unions and cooperative banks), or employees (worker co-ops). Worker co-ops, also known as labor-managed firms, have received the most attention in the economic literature, partly to answer the question why capital hires labor as opposed to labor hiring capital (Dow, 2018;Dow, 2020;Jensen & Meckling, 1979).…”