Abstract
Meade’s search for a Third Way, neither pure capitalism nor pure statism, led him to the cooperative enterprise on the model of Mondragon in Spain and the John Lewis Partnership in Britain. The suppliers of labour power and capital alike would share in ownership and in the profits. This would make industrial relations more harmonious and would boost efficiency by giving both sides of industry an incentive to do their best. Meade does not propose internal democracy through allowing the workers to choose their supervisors or the board of directors. He expects that the unions will continue to represent their members should internal disputes arise. As attachment is easier in a small firm; it is another reason to look carefully at the economies of scale that economists like Galbraith attribute to the large corporation.
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References
Books by James E. Meade
An Introduction to Economic Analysis and Policy. 1937 [1936]. (EAP), 2nd edn. Oxford: Oxford University Press.
The Intelligent Radical’s Guide to Economic Policy: The Mixed Economy. 1975. (IR). London: Allen and Unwin.
Liberty, Equality and Efficiency: Apologia pro Agathotopia Mea. 1993. (LEE). Basingstoke: Macmillan.
Papers by James E. Meade
MP The Meade Papers, in the Archives Room of British Library of Political and Economic Science, London School of Economics.
A Selection of Meade’s Papers Have Been Reprinted in Howson, S. and D.E. Moggridge, eds., The Collected Papers of James Meade (CP), Vol. I: Employment and Inflation (1988), Vol. II: Value, Distribution and Growth (1990), Vol. III: International Economics (1988) and Vol. IV: The Cabinet Office Diary 1944–46 (1990) (Jointly ed. with D. Moggridge). London: Unwin Hyman. Reprinted papers are cited from this collection. Volume III, pp. 388–405, contains a full bibliography of the published writings of James Meade up to 1988.
The following is cited in the text and not reprinted in the Collected Papers:
Meade, J.E. 1981. The Fixing of Money Rates of Pay. In The Socialist Agenda: Crosland’s Legacy, ed. D. Lipsey and D. Leonard, 75–106. London: Jonathan Cape.
Secondary Literature
Leibenstein, H. 1966. Allocative Efficiency vs. “X-Efficiency”. American Economic Review 56: 392–415.
Olson, M. 1965. The Logic of Collective Action. Boston: Harvard University Press.
Vanek, J. 1970. The General Theory of Labor-Managed Market Economies. Ithaca: Cornell University Press.
Ward, B.N. 1967. The Socialist Economy: A Study of Organizational Alternatives. New York: Random House.
Weitzman, M.L. 1984. The Share Economy: Conquering Stagflation. Cambridge, MA: Harvard University Press.
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Reisman, D. (2018). The Cooperative Way. In: James Edward Meade . Great Thinkers in Economics. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-69281-4_10
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DOI: https://doi.org/10.1007/978-3-319-69281-4_10
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