Abstract

Labor-managed firm or LMF is in direct opposition to Capitalist Enterprise. Its control, economic residual claim and the production, distribution of real decision-making power is based on labor, rather than capital. In other words, its prevailing principle is that labor hires capital. West academics increasingly pay more attention on Labor-managed firm theory, even formed a new branch of economics, which is LMF Economics. This book will conduct a thematic study of the history of economic thought of LMF, on this base sort out the labor-managed enterprise's origins of economic thought; make analysis, summary and conclusion of Western economics schools and Marxist economics and the West radical theories on LMF since 20th 50s. In order to get the basic characteristics and main points of LMF economics, make preliminary evaluation and get beneficial revelation on China's socialist market economy system construction.