The Study of Co-Operatives in Modern Economics: A Methodological Essay
Helsinki School of Economics Working Paper No. 351
26 Pages Posted: 17 Sep 2003
Date Written: July 17, 2003
This article presents a review on the economics literature on co-operatives from the point of view of economic methodology. I compare two different approaches, the neoclassical approach and the new institutional approach. The former approach is exemplified by Jaroslav Vanek's (1970) The General Theory of Labor-Managed Market Economies, and the latter approach by Henry Hansmann's (1996) The Ownership of Enterprise. I also pay attention to some more recent literature, like the contract-theoretic approach and Gregory Dow's (2003) recent book on workers' control. I try to answer the following questions: 1) How has the development of economics influenced the study of co-operatives in economics? 2) How can the co-operative studies benefit from the economics approaches to co-operatives? 3) What is the future of the study of co-operatives in economics?
Keywords: methodology of economics, co-operatives
JEL Classification: B2, B4, P13
Suggested Citation: Suggested Citation