Co-operatives and their place in a global social economy

Cheryl Lans

MPRA Paper from University Library of Munich, Germany

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).

Keywords: co-operatives; alternatives to capitlism (search for similar items in EconPapers)
JEL-codes: B00 (search for similar items in EconPapers)
Date: 2013-10
New Economics Papers: this item is included in nep-hme and nep-pke
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