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has been cited by the following article:

• TITLE: Competition in a Democratic Firm System: Failures and Constraints

  AUTHORS: Bruno Jossa

  KEYWORDS: Labour Managed Firms, Failures, Solidarity, Comparative Economic Systems

  JOURNAL NAME: Modern Economy, Vol.8 No.11, November 30, 2017

  ABSTRACT: Considering that businesses face bankruptcy when their aggregate costs exceed their revenues, the cancellation of the largest production cost item—wages and salaries—in an employee-managed firm system is an effective safeguard against bankruptcy. For this and other reasons, the author argues that risks of insolvency are unlikely to scare democratic firms into accepting the capitalistic logic of cut-throat competition.