Frank’s demolition of spurious ideas of why cooperatives and other labor-managed businesses are not prevalent and in fact comprise only a trivial portion of all firms (31-35) is beautiful and superb, precisely what I would expect from any decent economist. Ideological fanatics who fancied themselves economists expected them to prosper and blamed various features of capitalism for their failing to do so. Frank systematically dismantles a slew of such arguments. This example of economic logic is certainly worth attending to.
Ok, another quick article based on Frank’s description of a game in which the experimenter gives one subject some money — say, $100 — and then tells him to propose a division of that sum