Theory of Cooperatives

The Theory of Cooperatives explains how people come together to create and operate businesses that serve their collective interests. In a cooperative, members jointly own and control the enterprise, sharing profits and decision-making equally, regardless of their level of contribution. This structure emphasizes democratic governance, mutual benefit, and community focus, contrasting with traditional profit-driven firms. Co-ops commonly exist in sectors like agriculture, retail, and finance, aiming to meet members' needs efficiently while fostering collaboration and economic participation among members.