John Restakis

Humanizing the Economy

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How the largest social movement in history is making the world a better place.
At the close of the twentieth century, corporate capitalism extended its reach over the globe. While its defenders argue that globalization is the only way forward for modern, democratic societies, the spread of this system is failing to meet even the most basic needs of billions of individuals around the world. Moreover, the entrenchment of this free market system is undermining the foundations of healthy societies, caring communities, and personal wellbeing.
Humanizing the Economy shows how co-operative models for economic and social development can create a more equitable, just, and humane future. With over 800 million members in 85 countries and a long history linking economic to social values, the co-operative movement is the most powerful grassroots movement in the world. Its future as an alternative to corporate capitalism is explored through a wide range of real-world examples including:
Emilia Romagna's co-operative economy of in Northern ItalyArgentina's recovered factory movementJapan's consumer and health co-operativesHighlighting the hopes and struggles of everyday people seeking to make their world a better place, Humanizing the Economy is essential reading for anyone who cares about the reform of economics, globalization, and social justice.
John Restakis has been active in the co-op movement for 15 years. He is the Executive Director of the BC Co-operative Association and has been a consultant for co-op development projects in Africa and Asia. A pioneering researcher on co-operative economies, he writes and lectures on economic democracy and the role of co-operatives in humanizing economies.
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469 printed pages
Original publication
2010
Publication year
2010
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Quotes

  • Ismael Flores Vargashas quoted3 days ago
    Economic systems that preceded the Industrial Revolution were inseparable from the broader realities of social relations; the regulation of markets was essential for the delicate balance between commerce and the social system that surrounded it. The same principle held true for primitive economies. The primacy of social relations and the individual’s identity as a social being was the basis of human society and the economic systems that sustained it. The conduct of economics as an expression of social values was also an integral part of the civic humanism that was epitomized in the great urban cultures of central Italy at the dawn of the Renaissance era. Three principles stand out in this conception of urban civilization: the social identity of the individual as expressed in the notion of citizenship; the sovereignty of the people in a free society; and the orientation of economic activity to the common good, which alone justifies it. It was this humanistic view of economics as a social good that was supplanted by the Industrial Revolution and the utilitarian philosophy of Bentham that was its intellectual expression.
  • Ismael Flores Vargashas quoted3 days ago
    During the late 1700s in England, there were regular outbreaks of riots when food prices transgressed these limits. As noted by E. P. Thompson, in the popular mind the prevalence of what he termed a “moral economy” still governed the rules of the marketplace. People expected to buy their provisions in the open market, and even in times of shortage they expected prices to be regulated by custom.
  • Ismael Flores Vargashas quoted3 days ago
    During the late 1700s and throughout the 1800s a stifling repression of both political and economic freedoms was the government’s primary means of enforcing the privileges of laissez faire for the propertied class. The Combinations Act of 1799–1800 made it a capital offence for workers to organize, trade unionism and the movement for political reform were driven underground, and in the early 1800s the overwhelming majority of executions in the United Kingdom were for crimes against property. Naturally enough, it was those who had most to gain from such a view that did their most to propagate it.
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