Index ‘Agathotopia’, 92, 98, 99 altruism, 34, 35, 39 see also cooperation, Homo reciprocans Asian exceptionalism and crises, 5 see also <strong>in</strong>come <strong>in</strong>equality associationist socialism, xxvii, 5–7, 14n see also self-management; employee participation Atlantic republicanism, 27–9 Austrian school <strong>of</strong> economics, 16, 24–5 on entrepreneurship, 25 capitalism, xxiii, 1, 27, 103 emerg<strong>in</strong>g, <strong>in</strong> Croatia, xxv return to <strong>in</strong> Yugoslavia, 135 and Joseph Schumpeter on bus<strong>in</strong>ess cycle <strong>in</strong>, 13 see also laissez-faire co-determ<strong>in</strong>ation, 21, 103, 156 <strong>in</strong> transition, 103 collective ownership, 29, 133, 145, 153, 155, 156 see also social ownership command economy, 3–4, 6, 162 roots, 6 convergence, economic, 185, 188, 190, 192,193–5, 197 club, 191, 195 conditional, 195 cooperation, xxviii and culture, 178 <strong>in</strong> dictator games, 41 <strong>in</strong>ter-firm, 109, 110–11 <strong>in</strong> iterated prisoner’s dilemma, 36, 45; and Robert Axelrod’s tournaments, 36–7 and notion <strong>of</strong> fairness, 41; and contrived social relations, 41–2; and egalitarian redistribution, 33, 42 201 <strong>in</strong> public goods games 39–40, 45; and Homo economicus model, 39–40 and ‘tit-for-tat’ strategy, 36–7; <strong>in</strong> dynamic social processes, 37–9; cyclical pattern, 38–9 <strong>in</strong> ultimatum games, 40–1: and Homo economicus, 41 cooperative skills, 113, 114 corporate governance, 100n, 156, 164, 180n corruption, 105 creative destruction, 5, 11, 13–14 cultural learn<strong>in</strong>g, 35, 37 culture and moral predispositions, 43–4 and property rights, 178 decolonization, 22 democratic society, 18, 20, 22, 23, 28, 29, 33; Swiss canton, 17, 18; democratic market society, 20 immigration policies <strong>in</strong>, 86–7 dictator(ship), 18–19; Adolf Hitler’s Germany, 17, 18, 19, 23; Anastasio Somosa’s Nicaragua, 17, 18, 19, 23 economic democracy, xxv, xxviii, xxix and Austrian economics, 16 and Alvarado J.Velasco’s reforms <strong>in</strong> Peru, 16–17, 24 economic growth AK model <strong>of</strong>, 196 and democracy, 70 v. efficiency trade-<strong>of</strong>f, 3; and ‘Euro- Sclerosis’, 4; and revisionism, 4; and structural adjustment policies, 4 endogenous model <strong>of</strong>, 196, 197 and fatalism, 195–6 and <strong>in</strong>come <strong>in</strong>equality, 49
202 Index economic growth – cont<strong>in</strong>ued long-term trends, 189, 192 models, ix, xxii, xxxi policies, 186, 196, 197 political economy l<strong>in</strong>k, 70 scenarios, 191 Solow–Swan neoclassical models, 188, 192–3 theory, xxxi, 185; and transition, 185–6, 196, 197, 198 and theory <strong>of</strong> clubs, 191, 193–5; and transition pessimism, 191 <strong>in</strong> Yugoslavia, 124, 131, 139 see also convergence; transition; ‘Wash<strong>in</strong>gton consensus’ economic systems, alternative, 3–6, 180n economic efficiency, 3–5 see also capitalism, command economy; etatism; laissez-faire; market socialism; real socialism, self-management; socio-economic system; Soviet-type planned economy economic theory four cells <strong>of</strong>, xxvii, 2 and <strong>Branko</strong> <strong>Horvat</strong>, 2 and John M. Keynes, 2 and Karl Marx, 2 and David Ricardo, 2 and Adam Smith, 2 and efficiency v. distribution trade-<strong>of</strong>f, 3 egalitarianism, xxviii, 27–44 and Atlantic republicanism, 27 and capitalism, 27 and democratic socialists, 29 importance <strong>of</strong> economics, 33, 43 Thomas Jefferson’s, 28–9, 44n; and Alexis de Tocqueville, 28; and Karl Marx, 28–9 and moral sensibility, 32, 43 neo-Jeffersonian paradigm, 29–30; redistribution, 30 radical, 27, 43 and self-management, 104 and socialism, 27 and social preferences, 68, 69 egalitarian policies, programs, xxviii, 29–30, 32 asset-based, 29, 33, 42 concept <strong>of</strong> fairness, 31 cost-effectiveness, 32 and governance structures, 29 and government production, 30 <strong>in</strong>surance-based, 29 moral case for, 27 and moral sentiments, 43–4; roles <strong>of</strong> genes and culture, 35, 43–4 opposition to, 33 political viability, 30, 33 status quo bias, 32 support, reasons for, 35; <strong>in</strong>surance motive, 35; and ‘reciprocal fairness’, 35; and Social Security and Medicare, 42 see also cooperation egalitarian project, demoralization <strong>of</strong> xxviii, 31–2 and <strong>in</strong>centive structures, 30 and utopian yearn<strong>in</strong>gs, 27 employee ownership, 94, 99 <strong>in</strong> transition economies, xxx, 99, 100n, 145–6, 147, 149, 153, 155–6, 158, 159, 163, 165; and context <strong>of</strong> restructur<strong>in</strong>g, 158; and control, 155–6, 159; <strong>in</strong> Estonia, 168–9; and <strong>in</strong>vestment, 156; performance, 163; and participation, 163, 170; and productivity, 156; public policy, 159; and slowly-dy<strong>in</strong>g firms, 158; and ‘Benn co-operatives’, 159 employee participation and bus<strong>in</strong>ess performance, 163, 178, 180n, 181n and competitiveness, 105–6 <strong>in</strong> control, 92, 93, 94, 95, 97, 98; effective, dom<strong>in</strong>ant, 96, 180n and W. E. Dem<strong>in</strong>g’s quality movement, 103 effective control, 96, 180n entrepreneurial control, 91–2, 95–6, 97, 99, 100n
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Equality, Participation, Transition
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First published in Great Britain 20
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vi Contents 9 Self-Management, Empl
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List of Figures 02.1 First Law of O
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x Foreword institution most dear to
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Notes on the Contributors Ivo Bića
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xiv Notes on the Contributors membe
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xvi Notes on the Contributors done
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xviii Notes on the Contributors pri
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Introduction: Branko Horvat - Beyon
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xxii Introduction Dame (1978), Univ
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xxiv Introduction theory led him to
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xxvi Introduction though friendly,
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xxviii Introduction The second pape
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xxx Introduction disciplines such a
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Branko Horvat: Select Bibliography
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xxxiv Branko Horvat: Select Bibliog
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xxxvi Branko Horvat: Select Bibliog
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2 Horvat’s Contributions to Econo
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14 Horvat’s Contributions to Econ
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2 Individual Initiative, Entry and
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28 Egalitarianism On Its Own Thomas
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44 Egalitarianism On Its Own politi
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46 Egalitarianism On Its Own Eckel,
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4 Determinants of Cross-Country Inc
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50 Determinants of Income Inequalit
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52 Determinants of Income Inequalit
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54 Determinants of Income Inequalit
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56 GINI GINI 65 60 55 50 45 40 35 3
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58 Determinants of Income Inequalit
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60 Determinants of Income Inequalit
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Table 4.2 The regressions: dependen
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90 Illyrian Theories of Cooperative
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EMPLOYEE RETURN ONLY PROFIT PROFIT
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