Full Project – Cooperative societies – opportunities and threats in a capitalist economy

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CHAPTER ONE

1.0   INTRODUCTION

Different economic system exist in the world economy, among these are prominent namely: socialist, capitalist and mix-economic system.

In their drive towards achieving their set objectives, they face a lot of challenge especially that posed by the capitalist business men.  This piece of work look s into the very nature of capitalism and its general principle as it effects the growth of cooperative societies.

Cooperative societies started as the proverbial child of necessity, being the mother of invention, it arose in the 19^th century out of atrocities of the shrewed capitalist businessmen. The use of false weight and measure among  others were some at the bad business practices which characterized the capitalist system of economy. This is because the capital business men aimed at maximizing profit at the determent of the consumer. As a result, the spirit of cooperation was born in the minds of the founding fathers of the movement who formed business enterprise which by its principle and practices has a negative attitude towards capitalist and still remains today what is known and referred to as cooperative societies.

1.1   GENERAL OVERVIEW

THE SOCIALIST SYSTEM: This is the type of economic system where type is government control of all sectors within the economy. This implies that there is government ownership of every investment in the systems today. Socialism is giving in to other types of economic systems, in that most countries of the world that practice socialism are loosing their hold in the economic countries, the unions of soviet is socialist republic (USSR) is a good example of dividing socialist countries.

CAPITALISM: On the other hand, is a reverse of what is obtainable in a socialist economy. This is because capitalism is seen as an economic system where individuals control the main of the economy. It s characterized by the interplay of market forces, the forces of demand and supply, cut throat completion and indiscriminate like in prices of goods and services.

MIXED ECONOMY: the mix economy is an economic system which comprises the feature of both capitalist and socialist systems of economy in the mixed economic system.

In the mixed economic system there is joint ownership of factors there is joint ownership of factors of production by the government and private. Entrepreneur although there is state control on vital or key industries and services very essential to the masses. These services are known as statutory service which if left in the hands of individuals will either be exorbitant to procure or be reserved for the higher social class.

The government therefore, takes charge of administering such statutory services in a mixed economic system. The individuals on the other hand exercise the legal right of embarking on any type of business enterprise as the law demands.

The write up takes a look at capitalist system of economy as it effects cooperative societies. Cooperation is a unique form of business organization which aim of uplifting the living standard of their members.

1.2   STATEMENT OF PROBLEMS

Most often business activities are faced with numerous problems which hinder achievement of their objectives. Some of these problems are posed by the vagaries in the economy. Such as inflation, while some arises as a result of the type of economic system which the business enterprises operates.

This project piece takes a direct look into the problems passed by capitalism to a unique form of business enterprise known as cooperative societies.

Given a case a study of Anambra state the activities of capitalist businessmen and the problem it passes against the growth and development of cooperative societies is discoursed.

Cooperative societies are faced with many problem in a capitalist economy which hinders the growth and development of cooperative such problems which the cooperative societies have to contend with in a capitalist economy include:

1. Stiff and cat throat competition
2. Lack of enough financial resources
3. Lack of adequate government support
4. Lack of people interest in cooperatives
5. Lack of proper legislation.

These problems mentioned above are among the numerous problems which faces cooperative societies in capital economy.

1.3   OBJECTIVES OF THE STUDY

The write up is aimed at looking specially into cooperative societies. As agents of social and economic development, thereby bring into play their problem as they effects or hinders their development plans. The study also considers capitalism as a contrast to the very principle on which cooperation was founded. It focuses on the numerous problem created by capitalist economy and the threat which those problems poses to the cooperative enterprise.

The study also looked at opportunities and tries to relate them as factors necessary for social and economic development. In addition to this it also throws more light on the activities of cooperative societies as unique forms of business organization.

1.4   SCOPE OF THE STUDY

This work boarded on the influence of the capitalist system on the co-operative belief and principle taking into consideration of given area where there is a greatly felt incidence of activities of capitalist businessmen. The case study of Anambra State where there is high level of capitalism oriented business activities. The interplay of the forces of demand and supply and the spirit of profit maximization as can be seen in most commercial town of Anambra state namely, Onitsha Akwa etc presented  wider scope for the study.

1.5   THE RESEARCH QUESTIONS

1. What are the risks taken by cooperative societies in capitalist economy?
2. Are there factors that hinder socialism in cooperative societies opportunity and threats?
3. Are there some benefits that attach to those three mentioned economic systems that exist in the world economy?
4. What are the factors that can hinder those existing economic system?

How does government benefit from all those systems?

1.6   SIGNIFICANT OF THE STUDY

Importance of the piece of work cannot over emphasized. The reason that the write up will above all bring out the hidden problems which the cooperatives societies face within. At the same time put up some suggestions as that would help in solving those problems. This will ensure proper and will articulated programme aimed at withstanding the problems posed by the capitalist concept.

The present day is a point in time when bad business practice have become the order of the day, this become the order of the day, this can be attributed to peoples drive to maximum profit. This cooperative brought about serious competition in the economy. In take  of this, this work will related the efforts of the cooperative societies in trying to clurb these bad business practices with the aim of bringing a relief to the poor masses by breaking the chains of capitalism. Thus, it is believed will make a new socio-economic world where the suffering populace will enjoy some form of economic freedom.

1.7   LIMITATION OF STUDY

In carrying out the study within the given scope, some limiting factors existed which reduced the pace at which the study was carried out. Such limiting factors, ranges from scarcity of cooperative establishment within the area of study to the are of inaccessibility of cooperative inspectorate in government ministries.

Also among the numerous problems faced during the conduct of this research work is financial constraints.

 1.8   DEFINITION OF TERMS

Cooperative societies is defined as a group of people who come together with their resources and efforts aiming at making surplus to uplift the standard of living of its members that is Ogujiofor (2003:12).

Capitalist economy: This is seen as an economic system where individuals control the main features of the economy and where there is free allocation of market resources and private participation in market economic activities.

Threats: The threats were the way capitalism dominated and controlled the economy of all the developed and under developed countries which made the poor masses suffer before the intervention of cooperative societies.

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Full Project – Cooperative societies – opportunities and threats in a capitalist economy