Co-operatives in a Post-Growth Era: Creating Co-operative Economics

For the past three decades, neoclassical doctrine has dominated economic theory and policy. The balance of power has shifted to protect private interests, resulting in unprecedented damage to the environment and society, with no solution in sight as more austerity and less government continues to be posited as the answer to the oncoming waves of crisis. It doesn't have to be this way. Featuring a remarkable roster of internationally renowned critical thinkers, Co-operatives in a Post-Growth Era presents a feasible alternative for a more environmentally sustainable and equitable economic system - specifically, the co-operative business model. With more than 100 million people working in co-operatives and more than a billion members around the world, the time has never been better for co-operatives everywhere to recognise their potential to change the economic landscape. An essential book for students, policymakers and concerned citizens looking for a practical way to change the current stagnant economic paradigm.

Table of Contents:
Introduction: Co-operative Economics, Why Our World Needs It - Tom Webb and Sonja Novkovic Part I: What is the New Economy and Why Do We Need It? 1. The World On a Collision Course and the Need for a New Economy - Manfred Max-Neef 2. The New Economy - Neva Goodwin 3. The World We Need - Richard Wilkinson and Kate Pickett 4. Are Prosperity and Sustainability Compatible? - William E. Rees 5. Living Well: Explorations into the End of Growth - Peter A. Victor 6. Complexity: Shock, Innovation and Resilience - Thomas Homer-Dixon 7. Finance for the Anthropocene - John Fullerton Part II: Co-operatives and the New Economy 8. Choices, Incentives and Co-operative Organization - Stefano Zamagni 9. Are Co-operatives a Viable Business Form? Lessons from Behavioural Economics - Morris Altman 10. The Co-operative Enterprise: A Valid Alternative for a Balanced Society - Vera Negri Zamagni 11. Employee Ownership and Health: An Initial Study - David Erdal 12. Co-operatives in a Global Economy: Key Issues, Recent Trends and Potential for Development - Stephen C. Smith and Jonathan Rothbaum 13. A Role for Co-operatives in Governance of Common-pool Resources and Common Property Systems - Barbara Allen 14. Is the Debt Trap Avoidable? - Claudia Sanchez Bajo Conclusion - Sonja Novkovic and Tom Webb

About the Author :
Sonja Novkovic is a professor of economics at Saint Mary’s University, and academic co-director in the Co-operative Management Education programme. Currently, she is the chair of the International Co-operative Alliance Research Committee and academic co-lead of the Measuring the Co-operative Difference Research Network in collaboration with Co-operatives and Mutuals Canada. Tom Webb is an adjunct professor at Saint Mary’s University School of Business and former programme manager of the master’s degree in the Management of Co-operatives and Credit Unions (MMCCU). Sonja Novkovic is a professor of economics at Saint Mary’s University, and academic co-director in the Co-operative Management Education programme. Currently, she is the chair of the International Co-operative Alliance Research Committee and academic co-lead of the Measuring the Co-operative Difference Research Network in collaboration with Co-operatives and Mutuals Canada. Tom Webb is an adjunct professor at Saint Mary’s University School of Business and former programme manager of the master’s degree in the Management of Co-operatives and Credit Unions (MMCCU).

Review :
Co-operative leaders need to understand the economy from a perspective that is consistent with their purpose, values and principles. Neoclassical economics is off the mark in too many ways. These chapters provide a more realistic reading of the economy and will be helpful in understanding the challenges we face and how best we can contribute to making this a better world through co-operative action. The timing of this book is perfect! The findings from the 2012 Imagine Conference summarise ways to create prosperity and stability in this new economic, social and environmental reality. Leading economic thinkers provide critical insights in how the co-operative enterprise model meets the growing complex global problems while building a better world. Kudos to Tom Webb and Sonja Novkovic for making this happen. This is an outstanding collection of new economics, reflecting a growing and creative body of work on the practice and the theory of a more inclusive and authentically sustainable economy. Imagine 2012 was an acmé for the International Summit of Co-operatives during the International Year of Co-operatives. The recent financial crisis revealed much disarray in our ability to foresee our future and Imagine has been the silver lining behind the cloud for those who believe that co-ops are enterprises to build a better world. More than ever, the world needs economic systems whose objectives are not to make a small fraction of humanity monetarily rich but, rather, to build a more inclusive society where quality of life for all is the metric of success. Co-operatives have proven track records of generating just such outcomes. The ideas presented in this publication can serve to further our understanding of the possibilities and challenges associated with unleashing the power of a healthier view of sustainable economics. This collective work brings very useful insights on how cooperatives, in a plural economy, can help build a better world and reach sustainable prosperity. A must read for those who wants to learn about the cooperative model and its economics. The co-operative model provides a most effective institutional mechanism of addressing the development challenges of the African continent on a sustainable basis. Co-operatives can simultaneously promote wealth creation, poverty alleviation and more equitable distribution of resources. The poor don’t need sympathy or pity; they need empowerment and dignity that true co-operatives facilitate through bringing the marginalized population into the mainstream of socio-economic activity. The ideas about economics in this book will help co-operative leaders move co-operative development forward. When markets fail, co-operatives bring needed products and services, competition and opportunity for people. Building a global co-operative economy will ensure fewer economic crises and greater food security around the world. A unique collection of essays that offers both theoretical arguments and practical insights into how co-operatives can provide the basis for a more socially and environmentally sustainable economy. This should be required reading for all students in business and economics, and a must read for all interested in the future of the planet.