Abstract:Abstract. Most Western capitalist institutions are islands of fascism in a sea of democracy. But democracy can be introduced from the political to the economic sphere by re-assigning the right to manage from capital owners to workers, thereby creating a sector consisting of self-managed firms. Such firms require external finance for efficiency; this can be supplied via a new form of financial asset (performance bonds), to be held by wage-earners' investment funds. Reforms such as these could improve productivi… Show more
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