CO-OPERATIVE FEDERATIONS: OPPORTUNITY AND THREATS IN A CAPITALIST ECONOMY.
Need help with a related project topic or New topic? Send Us Your Topic
DOWNLOAD THE COMPLETE PROJECT MATERIAL
CO-OPERATIVE FEDERATIONS: OPPORTUNITY AND THREATS IN A CAPITALIST ECONOMY.
Chapter one
INTRODUCTION
Background of the study
There are various economic systems that exist in the global economy. There are three major sorts of economic systems: socialist, capitalist, and mixed. The socialist system is defined as an economy in which the government controls all economic activities and sectors.
This indicates that the government owns all investments in the system. Today, socialism is giving way to alternative types of economic systems, since most socialist countries around the world are losing their control on their own economies. The Union of Soviet Socialist Republics (USSR) is an excellent illustration of a fading socialist country.
Capitalism, on the other hand, represents a reserve of what is available in a socialist economy. This is because capitalism is viewed as an economic system in which a single individual controls the country’s economic operations.
It is distinguished by the interaction of market force, E.I. force of demand and supply, cut-throat competition, and indiscriminate pricing of products and services.
A hybrid economy combines the characteristics of the socialism and capitalism economies. A mixed economic system is one in which the government and private entrepreneurs jointly possess the factors of production.
The private enterprise keeps track of the main service that is unique to the people. It is prohibitively expensive to acquire or reserve for the socioeconomic class. As a result, the government assumes responsibility for administration.
Statutory services in a mixed economy system. Individuals, on the other hand, exercise the legal right to embark on any form of economic activity as demanded.
This price analysis focuses on how the capitalist economic system affects cooperative societies and the opportunities for success. In their pursuit of achieving their goals, they encounter numerous hurdles, particularly those offered by capitalist business owners. The research examines the nature of capitalism and its general principles as they relate to the creation of cooperative societies.
Co-operatives began as a proverbial necessity, which is the mother of invention. It emerged in the nineteenth century as a result of the atrocities committed by shrewd capitalist entrepreneurs.
Commodity adulteration, the use of bogus weights, widespread unemployment, wages that were exceedingly low and below the subsistence level, and so on. This is because capitalist businessmen seek to maximise profits.
To the detriment of customers. As a result, the spirit of cooperation in the minds of the movement’s great fathers, as well as a type of business enterprise with a negative attitude towards capitalism, emerged and continue to exist today as what is known as and is referred to as cooperative societies.
Need help with a related project topic or New topic? Send Us Your Topic