John Stuart Mill's Prediction on Business Organization Evolution
Based on his belief that worker education and political empowerment would increase, John Stuart Mill predicted the eventual decline of the traditional employer-employee relationship. In The Principles of Political Economy (1848), he wrote that this structure would be 'gradually superseded by partnership … perhaps finally in all, association of labourers among themselves.' This suggests a slow transition towards alternative models like worker-owned partnerships and cooperatives, which he believed would eventually become the dominant form of business organization.
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The Economy 2.0 Microeconomics @ CORE Econ
Ch.6 The firm and its employees - The Economy 2.0 Microeconomics @ CORE Econ
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