Theoretical and Empirical Studies of Producer Cooperatives: Will Ever the Twain Meet?
Producer cooperatives (hereafter, PC) have existed in Western economies since the advent of the factory system. The oldest surviving PCs in the U.K. and Italy are over one hundred years old. By analyzing the theoretical properties of PCs, economists hope to assess whether popularization of the PC form, or transplantation of some of its characteristics into other organizations, would benefit or harm social welfare.