Economics/Finances The Ownership of Enterprise (0674649702)

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Economics/Finances The Ownership of Enterprise

Posted on 2010-03-16

Name:	Economics/Finances The Ownership of Enterprise
ASIN/ISBN:	0674649702
Language:	English
File size:	18.32 Mb
ISBN:	0674649702
Publish Date:	1996-11-01
File Type:	PDF
Pages:	384 pages
File Size:	18.32 MB
Other Info:	Belknap Press

Economics/Finances The Ownership of Enterprise

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Henry Hansmann, «The Ownership of Enterprise»

& 8220; The investor-owned corporation is the conventional form for structuring large-scale enterprise in market economies. But it is not the only one. Even in the United States, noncapitalist firms play a vital role in many sectors. Employee-owned firms have long been prominent in the service professions--law, accounting, investment banking, medicine--and are becoming increasingly important in other industries. The buyout of United Airlines by its employees is the most conspicuous recent instance. Farmer-owned produce cooperatives dominate the market for most basic agricultural commodities. Consumer-owned utilities provide electricity to one out of eight households. Key firms such as MasterCard, Associated Press, and Ace Hardware are service and supply cooperatives owned by local businesses. Occupant-owned condominiums and cooperatives are rapidly displacing investor-owned rental housing. Mutual companies owned by their policyholders sell half of all life insurance and one-quarter of all property and liability insurance. And nonprofit firms, which have no owners at all, account for 90 percent of all nongovernmental schools and colleges, two-thirds of all hospitals, half of all day-care centers, and one-quarter of all nursing homes. & 8221;

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