BUS-3250 Study Guide - Midterm Guide: Free Market, Internal Control, Inside Out Music
6 Oct 2011
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Reading about the strength of the co-operative movement. At a time when socialism and capitalism are imperfect systems, the co-op movement is suggested as a system worth giving more thought. Co-operatives are enterprises that are collectively owned and democratically controlled by their members for a mutual benefit. Much discussion about the free market system and how it has never been an appropriate system for regulating the economy. Free market does not exist as when one of the controls set in place by the government fails, such as when the regulating bodies did not catch the banks errors in offering sub- prime loans the whole system fails. During the most recent recessions almost all co-ops and credit unions did not need to ask for governmental intervention in their operations. Free market means three things: a division of labour, the accumulation of wealth through economic development, and the freedom of enterprise.
