Detailed Study on the Labour-managed Firm as a New Mode of Socialism

The aim of this paper is to suggest that the establishment of a system of producer cooperatives is a
revolution which is consistent with Marx and Engels’s thought. The author examines Marx’s definition
of revolution and the concept of production mode and argues that a system of the cooperative firm
changes the production mode. He discusses also what manner plan and the market can be reconciled
in a socialist system