What was the vision of Robert Owen and Louis Blanc related to cooperatives? Explain.

Many people had a different approach towards the future of Russia so did socialists. They believed in the idea of cooperatives. Cooperative is the term used for those who work together to achieve a common goal with mutual understanding. Robert Owen, a leading English manufacturer, believed in the concept of cooperative and formed a cooperative community called New Harmony in Indiana (USA).

Another socialist in France, Louis Blanc demanded that government should replace capitalists based enterprises and encourage cooperatives. The main purpose of the cooperative was to produce goods together and to profits to be divided according to the works done by the members.