3 Hats Paper

3-Hats-pixThis is the “famous” 3-hats paper, circa 1976, that first laid out the ICA model for a worker cooperative and that clarified how different rights would be assigned to different functional roles (“hats”) in a worker cooperative. It is significant in that it also laid out the theory of the internal capital accounts before we learned that the Mondragon cooperatives had already used that structure for many years, and that it had long been used as the capital accounts in professional partnerships. The paper was produced on a machine known as a typewriter and the pictures were hand-drawn by a human being. Very slick.

Click here to download the 3 Hats paper.