Two ownership types are considered: the insider-controlled or co-operative firm which maximizes average net returns to labor, and the capitalist managed firm which maximizes average net returns to capital. The set of efficient production techniques and income distribution achieved by either type of firms is found to be the same as the standard profit maximizing firm. At the point where labor productivity is maximized, interest rate is equal to the...
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INFORMATION
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1994/05/31
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Document de travail (série numérotée)
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18524
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1
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1
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2020/06/19
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Disclosed
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Insider and capitalist controlled firms : equivalence and differences
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united states agency for international development
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