Worker cooperatives are defined as productive firms that produce and sell goods and services; they are firms in which workers make important decisions about what, when, where, and how to produce. This chapter explains briefly the global spread of worker cooperatives, and then elaborates the spectrum of possibilities existing in worker cooperatives in terms of (1) governance and decision making, and (2) wage and profit determination. Worker cooperatives hold the potential for being a radically different way to sustain workers and communities, but the firms are also shaped by the conditions and markets in which they operate.
Maliha Safri and Yahya M. Madra
This framing chapter explores how a diverse economies approach is different to a conventional approach to finance. There are a broad range of actors, institutions, arrangements and markets that comprise the domestic financial sphere and equally there are numerous channels through which financial intermediation occurs. Finance can be speculative (leading to booms and busts), wasteful (as when assets are traded without increasing productive capacities) and extractive; or finance can be emancipatory and solidaristic such that it nurtures and sustains community-oriented activities and ethical commitments. By seeing finance through a lens of diversity, new political possibilities are generated for supporting communities, deepening social relations and solidarity, rebalancing power, and promoting social cooperation and stability.