Abstract: The aim of this article is to contribute to this wider re-opening of the debate about whether co-operative production offers a practical middle way between private capitalist and state-owned business. By co-operative production I mean a system under which the ultimate control and ownership of an enterprise rests not with outsiders -- whether private capitalists or state bureaucrats -- but with all those working in it. What I shall attempt to argue is that such enterprises, if they are correctly structured, if they enjoy fully professional management, and if they enjoy adequate access to capital and markets, do indeed offer a practical and even a promising third way.

　　Subjects: CAPITALISTS & financiers; CORPORATIONS, Government; PRODUCER cooperatives; CAPITALISM; PRIVATE sector; PROPERTY

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