These companies with no CEO are thriving
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Co-ops are a big part of the global economy: they employ 10% of the world’s workforce and over two trillion dollars flow through their doors every year. At a co-op, there’s no single person with overarching, top-down power over everyone else, like a CEO at a traditional company. So what exactly is a co-op and how does it work? Explore the different types of cooperatives and how they operate.
Additional Resources for you to Explore
“What Do We Really Know About Worker Co-operatives?”
Among other things, she details the benefits of coops: they tend to be larger and cost less money. They often survive longer and are more stable than traditional businesses. They’re often more organized, efficient and productive. There’s less of a difference in pay between the top earner and lowest paid employee, so they are more equitable. For a snapshot of worker collectives in the U.S., including statistics and infographics, head over here.
The Coop Economy 2020 is a comprehensive report on the UK’s Cooperative sector. In it, you’ll find a breakdown of ownership and control, a summary of survival rates, two case studies – the Creative Coop and the Open Food Network – and a breakdown of each sector and how much money is being made each year within each.
Watch the video and finish the Think section to complete the lesson.
About Economics Explained
Economics has had a huge impact on the world we live in—and understanding the key factors at play in these massive, interconnected systems can give us insight into how to make them better, stabler, and more equitable. Dig into these quick and compelling explainers from TED-Ed and World Economic Forum for a taste of economics in action.
Meet The Creators
- Video created by TED-Ed
- Lesson Plan created by TED Ed
