Examining the relationship between employment and rates of pay, this book discusses how the choice between different forms of business organization may affect this relationship. For the purposes of the discussion a simple model of an imperfectly competitive economy is constructed and then...

I. Economic efficiency and distributional justice -- II. The present position in the developed countries -- III. The trade union state -- IV. The welfare state -- V. A property-owning democracy -- VI. A socialist state -- VII. Conclusion.