The standard property rights approach to nonprofit organization claims that attenuation of property rights in the form of nondistribution constraint stimulates managerial shirking in nonprofit firms and thereby makes them less efficient than for-profit firms. This paper argues that this view...

This paper asks whether nonprofit organization can have a positive rationale in an economy based on the division of labor, taking into account that the process of the division of labor occurs through profit-motivated economic behavior. By reconsidering existing economic theories of nonprofit...