This textbook introduces readers to the idea of cooperation and mutualism. Cooperatives and mutuals are participatory organizations in which members participate in control and governance, receive economic benefits through patronage refunds or net income, and become owners through equity. These mutual-benefit organizations exist alongside non-profit organizations and investor-benefit organizations through the global economy.

In order for markets to function effectively, property rights must be clear. In this video, we explore the idea of property rights, and why they matter in markets and how they affect individual incentives. We describe some of the conditions that are necessary for a properly and efficiently operating market to exist, including how exclusivity, enforceability, and transferability of property rights are essential for a properly functioning market.

Textbook, slide presentations, and class activities related to social structure and interaction, and the economy. Primary text: OpenStax Introduction to Sociology 2e

Market systems only function well when property rights are well defined. Take a deeper dive into the role of property rights in a market system in this video.