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12/25/2021 10:54:00 AM
It's funny because I think actually one of the most powerful arguments in favor of cooperative business is precisely the incentive to entrepreneurship you mention. For the reason you cite, firms should only want to grow when there are increasing marginal product for each extra worker, meaning you are getting more and more benefit from all your workers collaborating rather than working on their own. Another way to put it: only grow up until you reach the peak of economies of scale in your labor force. This is totally different than a capital managed firm which is incentivized to keep adding less and less productive workers until the marginal product per worker drops below the price of labor (which has the added disadvantage of incentivizing lowering wages!). I personally think that the structural unemployment idea is a bit of a myth, or at best just a transient problem as more and more workers develop the skills (and culture) to become worker-owners.