University of Wisconsin Center for Cooperatives
Journal of Agricultural Cooperation

Title Economic Nature of the Cooperative Association
Author(s) Richard Phillips
Series Volume 9
Issue Date 1994
Abstract This article attempts to develop, on the basis of the contemporary economic theory of the firm - but with adaptation to the cooperative structure - a realistic, workable, and reasonably complete theory of the economic nature of the cooperative association. This theoretical framework involves: (1) the economic structure of the cooperative association; (2) the economic relationship among the participating units; and (3) the conditions necessary for profit maximization in the cooperating firms.
Note: This Article by Richard Phillips, then a new Iowa State Ph.D., was arguably the most thought-provoking piece on cooperatives published in the 1950s.
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