On Success and Dissolution of the Labor-managed Firm in the Capitalist Economy
用一个简单理论模型解释发达资本主义经济中劳动管理型企业的生命周期：它们常由破产企业重组而来，但成功后往往转向企业家模式，原因在于与外部市场（尤其是竞争性劳动力市场）的互动。
Labor-managed firms (LMFs) in the developed capitalist economy exhibit an interesting life-cycle pattern. Often they come into existence as a way of reorganizing insolvent entrepreneurial (profit-maximizing) firms. Yet successful LMFs tend to be assimilated to the entrepreneurial modus operandi in the long run. I propose a simple theoretical model that explains this LMF phenomenon as the outcome of the LMF's interaction with outside markets, especially competitive spot labor markets. The interpretations and limitations of the model are also discussed as the basic framework is extended to deal with imperfections in capital markets and with contractual labor markets.