Challenging Traditional Economic Assumptions about Capitalism, Socialism and Enterprise Ownership
Update: 2025-10-06
Description
Research from Professor John Willoughby and Christian Fignole at American University in Washington DC examines how diverse ownership structures persist in market economies, challenging the assumption that capitalist ownership automatically emerges as the most efficient form. Using economist Henry Hansmann's institutional framework, they argue that while capitalist owners contribute little to enterprise operations, this does not guarantee that worker ownership would become dominant in post-capitalist societies. Their analysis reveals that heterogeneous ownership forms will likely continue to exist due to the varying conditions that exist in different sectors of a market economy.
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