||A comparative institutional economics approach is used to investigate
the question of whether the governance structure of cooperatives is flawed
in ways that would make it an inefficient or ineffective organization form
for the political-social-economic environment at this turn to the new century.
Cooperatives in four settings around the globe were studied intensively.
The findings suggest that, while greater use of federated cooperatives
and co-op-IOF hybrid models is required, the cooperative may be an ideal
economic organization form to deal with the complexities of a global society
in the century ahead.