The Adjustment Processes of Labour Co-operatives with Constant Returns to Scale and Perfect Competition

From The Economic Journal, vol. 89 (December 1979), pp. 781–8. This was reprinted as an ‘appended mathematical note’ to Meade’s paper, ‘Labour Co-operatives, Participation, and Value-Added Sharing’, in Alasdair Clayre (ed.), The Political Economy of Cooperation and Participation: A Third Sector (Oxford University Press, 1980), pp. 89–118.