Co-operatives and their place in a global social economy

Lans, Cheryl (2013): Co-operatives and their place in a global social economy. Published in: People over Capital: the co-operative alternative to capitalism

Abstract

For most of the world's developing countries, the 1990s were a decade of frustration and disappointment. The economies of sub-Saharan Africa and Latin America did not rebound economically in response to the structural adjustment prescriptions of the World Bank and IMF (Rodrik 2001; 2002). Frustration with the World Bank and IMF led to the development of many cooperatives in Latin America (Miller, 2006). Involuntary unemployment is capitalism’s most costly market failure and the demand for social services like the social-professional reintegration of disadvantaged groups usually cannot be provided solely by national governments (Monzón Campos, 1997). An alternative economy often arises in response to unemployment. This alternative economy is composed of co-operatives and NGOs working on small projects for community economic development and ethical businesses providing services (camps, financing, daycare, media, housing, women’s centres) (Corcoran and Wilson, 2010).

• Item Type: MPRA Paper
• Language: English
• Keywords: co-operatives, alternatives to capitlism
• Subjects: B - History of Economic Thought, Methodology, and Heterodox Approaches > B0 - General > B00 - General

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