A realistic view of this type of firm is grounded in the context of a capitalist environment without state encouragement. Founding, financing, and operation are considered as well as behaviour and performance. Our approach identified, more clearly than is usual is purely theoretical literature, areas where problems specific to worker co-operatives arise. The problem of why there are few such firms is considered. Also an hypothesis is offered as to why non-worker co-operatives often flourish and the question is posed: if worker co-operatives adopt the survival methods of these types could they be truly labour-directed?
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