What is expected of worker-owners, and what is given to them? What does it mean to "contribute equitably to, and democratically control, the capital" of a cooperative and what is done with surpluses?
In this episode, Kevin, Cinar and Larry discuss the 3rd Rochdale Principle, Member Economic Participation
"Members contribute equitably to, and democratically control, the capital of their co-operative. At least part of that capital is usually the common property of the co-operative. Members usually receive limited compensation, if any, on capital subscribed as a condition of membership. Members allocate surpluses for any or all of the following purposes: developing their co-operative, possibly by setting up reserves, part of which at least would be indivisible; benefiting members in proportion to their transactions with the co-operative; and supporting other activities approved by the membership."
These principles were first written in 1844 and were adopted by the International Co-operative Alliance (ICA) in 1937. Learn more about these principles on the website of the International Cooperative Alliance and the ICA's Guidance Notes to the Co-operative Principles.
**This podcast is free, but if you are able and willing, please consider supporting the show on Patreon so that we can continue to make and keep content like this available to all! There are a few other fun perks for patrons as well! Visit https://www.patreon.com/allthingscoop