Cooperatives

A cooperative, commonly referred to as a “co-op,” is a voluntary association that is organized for the mutual benefit of a particular social, economic, and/or cultural agenda(s). The venerable idea of cooperative enterprise originated in Europe during the Middle Ages. In fact, the merchant guilds and trade associations of the Hanseatic League were built on the idea of cooperation. While various forms of cooperation have always existed in civil societies, the modern cooperative movement has its roots in the early industrial revolution as a response to industrial capitalism. A byproduct of this response is the cooperative's dualistic nature: its economic goal of making a profit and its social goal of redistributing wealth. Some countries simply classify cooperatives as nonprofit organizations, under the social or civic economy.