Humanizing the Economy
Co-operatives in the Age of Capital
By: John Restakis
Published: September 1, 2010
Format: Paperback, 288 pages
ISBN: 9780865716513
Publisher: New Society Publishers
"As the global economic crisis continues to take its toll, co-operatives continue to provide livelihoods and essential services in the very places where multinationals are shedding workers and shuttering plants", writes Executive Director of the British Columbia Co-operative Association, and researcher into international cooperative economies, John Restakis, in his deeply profound and visionary book Humanizing the Economy: Co-operatives in the Age of Capital. The author describes the important and necessary role the co-operative enterprises play in the democratizing of the market economy, and for restoring the social fabric that has been torn asunder through an over reliance on the corporate business model.
John Restakis recognizes the need for an alternative economic model from that of the corporate based free market economy on the one hand, and the socialist based command economy on the other. All too often, writes the author, these two alternatives are presented as mutually exclusive options. To not embrace the one economic, is by definition, to follow the other. For John Restakis, this is a false dichotomy of limited choices. The author offers a third and viable alternative, in the form of the democratically owned and managed co-operative. Unfortunately, the co-operative movement is at a crossroads. John Restakis calls upon co-operative leaders, thinkers, and practitioners to advance the concept and values of the co-operative at local, national, and global levels. For the author, this drive to democratization can and will transform economies all over the world toward a more humane and sustainable economic and social order.
John Restakis (photo left) points out that the theory and practice of the co-operative economic model is neither new, nor unproven. The author shares the long and and successful history of co-operatives, and demonstrates their democratic and social value today. He also makes clear that while major banks and corporations were requiring bailouts to prop up their failed business models, the many credit unions and co-operatives were not only surviving, but they were and continue to be thriving enterprises. John Restakis views the co-operative as one critical instrument in repairing the widening rupture between the imperatives of capitalism, and the requirement of an authentic human life. Instead of economics and the marketplace being the force behind human life, economics must be returned to its previous role as simply one extension of a humane society. with the decline of community and an atomized social fabric, the author shares the alternative of co-operatives as a means to restoring community, and for establishing a social market, where the ultimate value is placed with the people receiving the service.
For me, the power of the book is how John Restakis presents the democratic economic model of the co-operative, as a viable and proven alternative, to both the free market capitalist and socialist economic systems. The author provides the theory and history of the co-operative movement, and relates those concepts to the social and economic realities of the today. With the very fabric of society being torn asunder, and individuals unable to discover an authentic and quality life, there is a need for a solution to heal those wounds. The loss of trust and community values have ripped apart social capital, leaving the individual isolated and disengaged from the greater society. The author describes how this increasing disengagement is not only having profoundly negative effects on society, but is taking its toll on individuals as well. The basis of the co-operative is founded on trust and reciprocity. These are exactly the qualities that both individuals and societies need to repair their damaged social fabric.
John Restakis doesn't propose the imposition of co-operatives as the only solution, and as the only viable economic model. Instead, the author presents the co-op movement as a proven and effective third option, where both the individual and society benefit. Instead of destroying social capital and maximizing profits, the co-operative builds social capital and heals damaged communities. Not only do the co-operatives build and strengthen social capital, but they empower their members to take charge of their own lives and communities through greater civic participation. New leaders are discovered and nurtured, who go on to establish other co-operatives, creating jobs and enriching the community store of social capital. For the author, co-operatives are essential for creating efficiency, equity, and reciprocity. These qualities extend to include trust, democratic involvement, and a restoration of human dignity and a sense of community. The co-operative model is successful, and the author fills the book with examples of thriving examples. The author demonstrates clearly that the time for studying and advancing the co-operative model is now.
I highly recommend the important and landmark book Humanizing the Economy: Co-operatives in the Age of Capital by John Restakis, to anyone seeking a viable and proven economic alternative. Whether a person is involved with co-operatives, community leadership, or social reform, this book provides the theory, history, and proven the economic logic behind the co-operative. The concept of co-operatives can also provide a non-governmental and community alternative for the delivery of social goods and services.
Read the essential and thought provoking book Humanizing the Economy: Co-operatives in the Age of Capital by John Restakis, and put the power of the co-operative ideal to work for rebuilding the social fabric of your community, while healing and empowering people and their lives. This proven and effective third option could be the alternative policy sought by community leaders everywhere.
