Thoughts on Arrangements of Property Rights in Productive Assets
Bibliographic Data
| ID | 11308576 |
|---|---|
| Authors | John E Roemer (0000-0001-9049-5083, corresponding author) |
| Year | 2013 |
| Volume | 35 |
| Issue | 1 |
| Pages | 55-64 |
| Publication date | 2013-05-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Analyse & Kritik (JOURNAL) |
| Journal identifiers | ISSN: 0171-5860 • E-ISSN: 2365-9858 |
| Publisher | Walter de Gruyter GmbH (PUBLISHER • DE) |
| DOI | 10.1515/auk-2013-0105 |
| OpenAlex | W2345946730 |
| Language | EN |
| Citations received | 4 |
| References cited | 3 |
State ownership, worker ownership, and household ownership are the three main forms in which productive assets (firms) can be held. I argue that worker ownership is not wise in economies with high capital-labor ratios, for it forces the worker to concentrate all her assets in one firm. I review the coupon economy that I proposed in 1994, and express reservations that it could work: greedy people would be able to circumvent its purpose of preventing the concentration of corporate wealth. Although extremely high corporate salaries are the norm today, I argue these are competitive and market determined, a consequence of the gargantuan size of firms. It would, however, be possible to tax such salaries at high rates, because the labor - supply response would be small. The social-democratic model remains the best one, to date, for producing a relatively egalitarian outcome, and it relies on solidarity, redistribution, and private ownership of firms. Whether a solidaristic social ethos can develop without a conflagration, such as the second world war, which not only united populations in the war effort, but also wiped out substantial middle-class wealth in Europe - thus engendering the post-war movement towards social - insurance is an open question
Business · Capital (architecture · Common ownership · Economics · Ethos · Labour economics · Land tenure · Market economy · Microeconomics · Political science · Property rights · Redistribution (election · Security of tenure · Solidarity · Economic Theory and Institutions · Housing, Finance, and Neoliberalism · Political Economy and Marxism
| Citations per year | 0.36 |
|---|---|
| Citation span | 2015 - 2026 (12) |
| Highly cited | No |