DAVID ELLERMAN

This is a paper on Marx's notion of "capitalism" and Frank Knight's notion of "civilization" and why both leave much to be desired.

This is a preprint of: Ellerman, David. 2025.

The Danish EOT is an unworkable model for employee ownership and thus no solution for the growing problem of business succession.

These copies of the Industrial Cooperative Association (ICA) Model By-Laws go from an early version from the late 1970s to the mature version in the early 1980s.

This paper shows that MP theory can also be formulated in a mathematically equivalent way using vectorial marginal products--which however conflicts with the ``distributive shares'' picture.

This paper explores the Employee Ownership Trust (EOT) model, comparing it with traditional partnerships and employee ownership structures like the US ESOPs and the European Coop-ESOPs.

Any `fair market valuation' of an employee-owned firm or partnership that assumes those future residuals accrue to the current shareholder/residual-claimants is inappropriate.

In this paper, I am publishing for the first time the author’s devil’s advocacy document when I was Senior Advisor to the Chief Economist of the World Bank, Joseph Stiglitz.

For a century, quantum theorists have been reading the mathematical entrails of quantum mechanics (QM) to divine the nature of quantum reality.

This paper gives a new derivation of the variance (and covariance) based on the two-sample approach, which positions the variance on the partition and information theory side of the duality and thus dual to the mean.