A Theory of Co-Operatives

Abstract

A theory of co-operatives. This article seeks to derive basic pricing, production, and resource allocation rules for consumer and producer co-operatives. In order to do this, a somewhat general model of a firm is developed, capable of comprising co-operatives, as well as the conventional owner-controlled firm of economic theory. The results obtained generally conflict with received theories of co-operatives. Subsequently, the model is extended to get a theory of labour unions and to cover immigration and emigration and the growth of cities.

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