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Download The Share Economy Free Books

Harvard University Press

English - 180 pages - ISBN-10: 0674805836 - ISBN-13: 9780674805835

1/5 by 2 votes


In the pages of this intriguing volume, a cure to stagflation seems to be at hand. Martin L. Weitzman, one of America's leading economic theorists, has hit upon a central feature of our economic life as the cause of this chronic malady: the standard practice of paying workers a fixed wage, regardless of whether a company is doing well or poorly. Weitzman shows in a clear straightforward way that an alternative labor payment system, in which a significant number of firms share profits or revenues with their employees (like the Japanese bonus system), provides immunity against stagflation; an economy of such firms automatically soaks up unemployed labor and resists inflation. Under the Weitzman system, firms always have an incentive to take on more workers because the additional worker is paid only a fraction or share of the revenue he brings into the firm. General Motors and Eastern Airlines have already taken steps to implement profit and revenue sharing. Here, for the first time, is a lucid explanation and justification of share systems. Eschewing theoretically unsound schemes such as supply-side tax cuts and industrial policy on the one hand and macroeconomic sledgehammer "cures" on the other, The Share Economy provides a powerful and hopeful account of what may become the most important economic innovation of our time.

Reviews

64x64

Craig Johnson

This is one of the best books that I have read so far in my life. You won't be disappointed.

Christopher Johnson

Exciting to read and hard to put down

John Tremblay

It was damn awesome, sweet, the way of describing the romance was just marvellous

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