sranding is a public an, and relsrs ru rhe cornruiiniiy as a whole However, unlike simple baner. a rnernbsr in eredrl can spend over rho whole range ol serviees or goods ollered I’mdnmon, as on» spsnl by members in semen in urhers, is ihus never lrniiled by rhe lack ol money. Busxnmfi can charge lederal currency lor spare pares. and green dollars lbr labour Price is agreed upon by ihe individuals, and reporled in lo his in come. by Ihe consumer. ”Foray!" goods are rhus more expensive, and losal eomporienls increase, loeal businesses lhrrue charilies and local larms benerrr grearly, as rhai-uy donors can see iheir lunds as likely ro renrrn ro rhem Anyune who warus work can oller services, lhey need nor wail lor "yobs" As only members can rrade wirli earh nrher, ihe eommunriy aesoonr is or all runes balanred in ellesr, any member lby working or sellingl issues iherr own currency, and could rsrurn any rorurnoriiry ro lull employmenl An ideal member has many naroaciionsi bui amimulares modesl debirs and credirs see under Resources or ihe erid nl ihis chapler lbr dddnsws Finally, ihe rnlorrnal economy includes purely volonreer labour, exchanges irl gins, and mkmg respons ry lor a serum communiry propel or area For examylc, convivial fleephmm‘ on eorrirnuniry common area. Muld be a pm ol every household-s responsibrlures This may well he arhreued by rlie "Idophun" or a low aeres u! eornrnuriuy loresr by a household orher communrry pmjefls can be helped along by vnlunleer ehoris. grlis ol malerials and glfls ol lime as advisers or enlerrarners THE FORMAL ECONOMY ~ronual" nieans lhar goods or services are conduered uridera legal umbrella, and are regulered by acrounirng procedures Exchange can sirll ralre plaee. hm ii is mauled [in in rerms or srocls or sen-ices. Such lormal economies are neeessary where people lrnariagersl are lar a group ol members or inveslors, and um ylut lor rhernselves or lheir households Legal procedures rnnsl also be lollowud by sellernployed people or larnrly businesses, where cash is reeeived lor goods or servers rendered urwfizrld publicly A earninunriy may have ex leasl lhese lormal snusrures- - Coopeianves . Communrry savings and loans r small businesses servicv omee - lnvesunenr iirndslrrrspesial proieers - Lusmg company or sysvem r lives A eooperanve is a group bl people «ding rogelher lur rhe benelir or members ll is a legal enrily wuh llmrred liabilily, and perpernal suceessrrin lno dlwluhon lbr individual garnl, lr has several printiples: - Open membership (open lo all who an make use ol rlie services and will aesepl lhe responsibilriies ol 536 rasrnbershipl . DelemuL' orpinisirion lrnernbers panrcipaie in decisions allecrinp rlie ciiopsrariee, wulr allaris id be adminislered by people eleded by rhe members), - srrierly limired mleresr cin shore eapual llair bur lrmrled award lnr rapiial and resrrrcred innuenes oi people holding share capilall. - Surplus or savings our ol ihe aperariun ol rlie conperarive belong or members lwrrh members is deride on ihe use or rho surplus, whelher ro develop ilie business, in pmvldh‘ summon servrees lor mmbersr and/er ro disrnbule among members aeeording lo rhe degrwol Invoh’emrm m lhe eoeperalirel - Edmrmun ieooperaness should provide tdumhnn lor menihers, omerrs. employees, and lhe Public on principles and reeliniques 0fqulmd io invesl abour ssma when Mums. This ran be borrowed horn |hc bank or obrauied by rnsrallrrwrils dcdudnd lrom wagfi aver a lwwvflr period 0! ihia imresiineni, m is a reinli-ibulion rn rnlleclriely owned lunds. and m is lor ihr purchist ol an individual shareholding or raprlal .wciiiini Much is normally um drawn upon by rlir worker snap! on reoremeur, denlh, in in cases or errrenie hardshipl ln lliis way, a (0—0}; ran parr Hy lurid rrsell, wilh generous help lrom lliie roeperauve bank. The Mondragiin nope-relives have several lezlum 1 IN} ol rhe prolirs musi he relurned lo lhe cemmunrry lnr publrr services we or rhs prollrs are held as capual reserves. and 70'7- are disrribuied lo workers, alihough nor all bl lhrs is available lor w drawal mm! a worleer leaves lhe eooperauve, ar w ch pflinl all at ilielr financial inreresr in lhe business musl be wuhdrawn lhe warker is, in elleel, "loinlng' ihe eooperarive lhe money, and sorecs-ives inreresr, 1 A eooperaliiely run bank ore-sees ihe luneuorurg a! all new cooperalrv-es in rhe group, linanees new eooperanves lup in 90%), and ollers Expefl manag- rnenlslnlis. J No redundancies in «he :wperanvesr—wmkels are relrained and new yobs lourid in oiher expanding cooperaiive groups. 1. The raoo ol lhe lowcsi ro rlie hrghesi paid person is never grealer rhanl 5 5, An annual meeiing 01 all workers in a pardcolar enrerprise eleels borh direerurs irnanagersl ro run lhe business arid a social council lunroril lo uegbriale wth dimrms on wnrk eondulons, WV, educarion, ere The mung observes lhe principle oronr worker, one yore. 5 Each (oopennh'e averages abbul 2110—300 workeraiwners, large numbers besorrie roo impersonal, and large cuupzrallves are drvided inro smaller independsni unils. 7. The crunmuririy has moperaisue schools, hospihlli