Question

One reason for the failure of the Equitable Labour Exchange was:

• A. Overvaluation of goods by assessors
• B. Lack of interest by workers
• C. Insufficient goods for exchange
• D. Government opposition

Answer 1

Answer:

A. Overvaluation of goods by assessors

Equitable Labour Exchange (1832)

• Equitable Labor Exchange – 1832

• Established: 3 September 1832

• Location: England

• Founder: Robert Owen

Background

• After the failure of New Harmony (USA), Robert Owen returned to England.

• He was not discouraged and continued to pursue his cooperative ideas.

• He started the Equitable Labor Exchange to promote fair trade and worker empowerment.