Here’s a great item from Stir on the power of cooperatives, excerpted from the book Local Dollars, Local Sense: How to Move Your Money from Wall Street to Main Street and Achieve Real Prosperity. Thanks to Josh for sending it my way.
The cooperative sector owns $3 trillion in assets, generates half a trillion dollars a year in revenue, and pays 856,000 people $25 billion in annual wages. Their multiplier impact on the economy supports more than two million jobs nationally. In Minnesota, which is not only the Land of 10,000 Lakes but also the state with 1,000 co-ops, another survey of just a third of them found they were contributing seventy-nine thousand jobs in the state and more than $600 million in state and local tax revenues.
Read the excerpt of Michael Shuman’s book here.