chapter  1
192 Pages

The Third Way

Given the diversity and the sharp contrasts within the movement, the virtue in the absence of definition starts to become apparent. Advisedly, the basic law on co-operative societies, the Industrial and Provident Societies Acts 1965 to 1975, pronounces that for the purposes of that law, a society is a co-operative if it satisfies the Registrar of Friendly Societies that it is authentically so. None of this is to say that co-operatives are obliged to register under the Industrial and Provident Societies Acts. For a co-operative to succeed, both the material benefit and the appeal to morale must be real. Emphatically, it is not the morality of a preordained prescription to which fallible humanity may hope to aspire but never to attain, but of a much humbler kind which asserts no more than that it is best economic policy. Such an economic policy would recognise an industrial co-operative sector as the third-way.