The purpose of this article is to summarize the relationship between the research of Jaroslav Vanek on labor-managed firms (LMFs) and the research of Gregory K. Dow on the same topic.
The article reviews the research of Jaroslav Vanek in the 1970s and explains how this influenced the publications of Gregory K. Dow extending from the 1980s to the present. A particular focus involves Dow's book “The Labor-Managed Firm: Theoretical Foundations” published by Cambridge University Press in 2018. The methodology is to present an intellectual history in narrative form. The scope of the paper is the economic theory of the LMF.
The article finds that Dow's interest in LMFs was stimulated by Vanek's publications from the early 1970s. However, Dow's publications in the 1980s were motivated to a large degree by efforts to overcome the limitations of Vanek's theory of the LMF, a goal that shaped much of Dow's later research in the field.
The paper illuminates the strong intellectual influence Jaroslav Vanek exerted on the economic theory of the LMF. Readers who want information about the influences on Dow's work may also find it useful.
The author wants to thank Derek Jones for helpful comments on an earlier draft. All errors and opinions are the author's own.
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