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Article

The Firm in Illyria: Market Syndicalism

Benjamin Ward · American Economic Review 48(4), 566-589 · 1958

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Type: Article
Author: Benjamin Ward
Accessed: 2026-09-01

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TheoryBenjamin Ward (1958) was the first to show that the 'Illyrian' labour-managed firm tends to reduce employment and output in the short run when its market price increases, the 'perverse' supply response later debated by theorists.