ABSTRACT

Cooperative forms of organizing have coexisted with more traditional profit-driven enterprise in market economies for decades. Yet, cooperatives are fundamentally different in that their ownership and governance model is distributed across the members. Instead of private ownership over labor and the means of production, cooperatives aim to share the wealth and responsibilities among member/owners. “Cooperatives are autonomous associations of people united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly owned and democratically controlled business.” 1