In 1995 the ICA adopted a revised set of cooperative principles to guide the movement through the global era of deregulation and competitiveness. This paper, on the basis of the cooperative experience in Canada and emerging trends, deals with the appropriateness of the new ICA principles in reaffirming cooperative values at the member, cooperative and movement levels. Because cooperatives seem to be evolving toward a corporate business logic, consequences are outlined and assessed to bring into question, among other factors, the role of ICA and its guiding principles in the present cooperative impasse. The paper suggests criteria and a framework for re-capturing real cooperative values and principles. Emphasis on education and training, and development of political cooperative leadership along with member-controlled systems, are advanced as instruments to ensure the preservation of cooperative ethics, values and principles in the so-called global economy.