The Attenuated Right of Ownership and the Firm

Part of the International Studies in Economics and Econometrics book series (ISEE, volume 22)


There are many types of firms in a capitalist society in which the right of ownership is attenuated. The most significant firms in this class of business organizations are the regulated firm, the not-for-profit firm and the so-called codetermining firm. The regulated firm and the not-for-profit firm are usually discussed in microeconomics and industrial organization classes. The codetermining firm, on the other hand, is much less known and, at the same time, more relevant in the analysis of comparative economic systems. For those reasons, this chapter will discuss the codetermining firm in some detail.


Collective Bargaining Labor Union Equity Capital Supervisory Board Union Leader 
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Suggested Readings

  1. McAvoy, P. Regulated Industries and the Economy, New York: Norton, 1979.Google Scholar
  2. Posner, R. “Taxation by Regulation,” Bell Journal of Economics and Management Science, 22, 1971.Google Scholar
  3. Stigler, G. “The Optimum Enforcement of Law,” Journal of Political Economy, 78, 1970.Google Scholar
  4. Stigler, G. “The Extent of the Market,” Journal of Law and Economics, 28, 1985.Google Scholar
  5. Watrin, C. “The Case of Codetermination in West Germany,” in Socialism: Institutional. Philosophical and Economic Issues (S. Pejovich, ed.), Dordrecht: Kluwer Academic Publishers, 1987.Google Scholar
  6. Winston, C. “Conceptual Developments in the Economics of Transportation,” Journal of Economic Literature, 57, 1985.Google Scholar

Copyright information

© Kluwer Academic Publishers 1990

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