MEC and the Institution of Capitalism
The downfall of MEC has no doubt been a disappointing event. It has unfortunately been misinterpreted as a symbol for the inability of cooperatives and alternative modes of corporate governance to perform as well as the seemingly ubiquitous and touted capitalist model of private enterprise. Yet if you dig a bit deeper, it becomes quite clear that the institutional power of capitalism is a key explanation of MEC’s fall from grace. Institutional theory is one useful lens to get