Arrow showed that there is no general way to aggregate non-interpersonally comparable preferences or welfare into either a sensible social choice or a social welfare measure. With majority rule the problem manifests itself as voting cycles. The standard response to this problem has been...

Full employee ownership, under which employees enjoy dominant ownership and control rights, is an innovation which alters the relationship between employees and the organization in which they work. Although it has been hypothesized to have a number of positive implications, it has suffered from...