Co-operative are important part in developed and developing countries trades. Including the finacial copperatives (Credit Unions), Coops play an important role on their members economic activities.
Coops are mmber based instituion and does not account its ownership based on the number of shares owned. Coops values and policies encourage democracy and autonomy and provide equal oppotuntiies of its member regarless of the wealth they posses.
I would like to get your feedback, comments review on the cooperative business model and its implication in the local economic development.
In a capitalist framework Navindra Liyanaarachchi cooperatives will always end in privatization or perish.
Please visit: Oppenheimer's Circumspection by Stephen I. Ternyik :: SSRN
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2790465
or
Franz Oppenheimer — The Law of Transformation and Social Market Economy – Economic Sociology & Political Economy
https://economicsociology.org/2019/12/11/franz-oppenheimer-the-law-of-transformation-and-social-market-economy/
Just want to note that housing cooperative is an important form of private community.
Cooperatives have been found to contribute significantly to social integration, job creation and the reduction of poverty.
Cooperatives can contribute significantly to local economic development. They can act as an agent of community economic development by creating room for the direct involvement of communities and their leaders in the fight against poverty. Cooperatives change the preferences, habits and characters of their members and thereby trigger economic development and social reform. Cooperatives manage to exploit local knowledge as an otherwise costly production factor. Cooperatives ease the pooling of resources and the buildup of power.
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