Question

Can the cooperative movement of India be an answer to the domination of multinational and transnational companies? The philosophy of the cooperative movement is to provide both, empowerment and finance to the members while that of the corporations work on profit motive. Give your opinion on this.

Answer 1

The cooperative movement can provide a strong alternative to the domination of multinational and transnational companies. Cooperatives work for the welfare and empowerment of their members, while private corporations mainly work with a profit motive. Cooperatives can support small producers, farmers and workers by providing finance, marketing facilities and collective bargaining power. However, they also need efficient management, modern technology and competitiveness to face large companies successfully. The textbook notes that globalisation has increased the role of multinational and transnational companies and also increased competition for small industries and shops.