Labour Managed Firms and Post-Capitalism (Routledge Frontiers of Political Economy)

Marx claims that unselfishness is a child of (workplace) culture, whereas the gene is selfish. If Marx is right then the prerequisite for overthrowing capitalism is a system which both leverages selfishness and creates solidarity between workers. This book illustrates and discusses the major points of the economic theory of producer cooperatives, its evolution since the 1950s, and links with Marxian theory.

Labour Managed Firms and Post-Capitalism, most importantly, demonstrates that a system of producer cooperatives offers a wealth of advantages compared to capitalism. There is general agreement that the main benefit of this form of economic democracy is that people who are allowed to freely pursue their interests are happier than those acting on somebody else’s instruction. The author argues that a system of democratic firms would eradicate classical (high-wage) unemployment and scale down both Keynesian and structural unemployment levels. He also shows that a system of producer cooperatives literally reverses the capital-labour relationship typical of capitalism and that its establishment can consequently be looked upon as a revolution.

This volume is of great interest to academics, lecturers and researchers with an interest in Marxism, political economy and industrial economics, as well as economic theory and philosophy.

Bruno Jossa has held teaching posts at the Universities of Pescara, Messina, Venice and Naples. He is a co-founder of the Associazione italiana per lo studio dei sistemi economici comparati, an association which he chaired in 1992-93. From 1994 to 2005 he was Chairman of the Associazione per la collaborazione tra gli economisti di lingue neolatine. Prizes received by Professor Jossa include the V ISTECOR European Culture Award (1991), the ‘Saint Vincent’ Award (1998) and, in 2011, the F. Nitti gold medal of the Accademia dei Lincei.