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Reading response - Essay Example

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Employees fought for their compensation for the termination of employment and salary, but they were unsuccessful. On the process, they decided to form cooperatives and reopen the businesses on their…
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Reading response
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Download file to see previous pages Everyone perform the assigned task or the occupation he/she is capable of doing.
Those who were unemployed perform artisan projects, vegetable gardens, and some bread factories. Farmers concentrated on the production of food, charcoal and any other food from the farm. Through these activities of production of goods and services, channels of distribution networks, retail centers, and markets emerged. This improvement on economy led to the improved standard of living among the workers. There was improved infrastructure, which made the movement of goods and services to market easy and affordable. Other recreational facilities like schools, health centers, and sports ground were accessible and affordable to everyone. This is unlike the situations where they were controlled and limited in accessing the services by their employers (Frank 216).
In 2007, a charter was signed which marked the foundation of The Bank of South. This bank was formed so that it can challenge the dominating banks like World Bank, International Monetary Bank, and Inter-American Development Bank. The bank was very important, as it would give the participating governments an opportunity to use part of the collective currency. The part of the collective currency would be used to strengthen and improve Latin Americas economy by promoting cooperative development. The Bank of the South was advantageous, as it would free the participating nations from chains of underdevelopment and dependence. Those who invested in Washington Consensus were not happy about the Bank of the South. This is because they were supporting World Bank and IMF as the banks were in control of the poorer countries. The banks controlled and regulated the poor countries on how to they can access credit and development financing. The bank restricted the poor nations not to default their debts and provide them with funds on difficult times. The nations would pay back the returns, ...Download file to see next pagesRead More
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