Amartya Sen has been writing about development issues since the mid-1950s, most notably, but far from exclusively, in the 1960s. As a young man he was influenced by Tagore, by Nehru and by his teachers in Calcutta and Cambridge. He generally adopted an anti-market, anti-neoclassical stance. In...

It is shown that in an economy with non-marginal set-up costs on the capital side, which imply a minimum requirement of capital, production may be carried out by capitalist firms only, irrespective of the fact that workers can exchange work for capital so that labour-managed production seems...