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

See all articles by Panu Kalmi

Panu Kalmi

Aalto University - Department of Economics

Date Written: July 17, 2003

Abstract

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

Kalmi, Panu, The Study of Co-Operatives in Modern Economics: A Methodological Essay (July 17, 2003). Helsinki School of Economics Working Paper No. 351, Available at SSRN: https://ssrn.com/abstract=434560 or http://dx.doi.org/10.2139/ssrn.434560

Panu Kalmi (Contact Author)

Aalto University - Department of Economics ( email )

PO Box 1210
Helsinki, 00101
Finland
+358 9 431 38 283 (Phone)
+358 9 431 38 738 (Fax)

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