What is it about?
The conventional literature on the non-conventional democratic firms claims that such firms have "inherent flaws". This paper shows that these "problems" are really pseudo-problems of specific formulations. Moreover, one of the problems is only imagined in democratic firms and it a major practical problem in conventional firms.
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Why is it important?
Although the idea of a democratic firm may seem attractive at first, many economists and other researchers are told that there are inherent "problems" in the whole idea of a democratic firm--even though such problems have well-known solutions or are only pseudo-problems. Ironically, one of the alleged problems in democratic firms is a widespread real problem in conventional firms associated with share buybacks.
Perspectives
This paper tries to sort out which problems are real and which are only alleged (i.e., theoretical problems not empirically observed) in the contrast between democratic firms and conventional firms.
David Ellerman
School of Social Science, University of Ljubljana, Slovenia
Read the Original
This page is a summary of: On some alleged “problems” and alleged “solutions” in democratic firms, Journal of Participation and Employee Ownership, August 2020, Emerald,
DOI: 10.1108/jpeo-04-2020-0012.
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