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Rethinking the Factors of Production for a World of Common Ownership and Sustainability

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  • Molly Scott Cato
  • Peter North

Abstract

The classical economists bequeathed us an understanding of the nature of economies in terms of three factors of production: land, labor, and capital. If we are to transcend the unsustainable and inequitable economy we live with today, an intellectual reinterpretation of these three factors is a vital first step. In this paper we provide such a liberating reinterpretation with examples from European and Latin American praxis.

Suggested Citation

  • Molly Scott Cato & Peter North, 2016. "Rethinking the Factors of Production for a World of Common Ownership and Sustainability," Review of Radical Political Economics, Union for Radical Political Economics, vol. 48(1), pages 36-52, March.
    • Handle: RePEc:sae:reorpe:v:48:y:2016:i:1:p:36-52
    DOI: 10.1177/0486613415586981
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    References listed on IDEAS

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    More about this item

    Keywords

    factors of production; commons; solidarity economy; social economy;
    All these keywords.

    JEL classification:

    • B59 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Other
    • J80 - Labor and Demographic Economics - - Labor Standards - - - General
    • P48 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Legal Institutions; Property Rights; Natural Resources; Energy; Environment; Regional Studies

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