The Basque Country’s Mondragón Corporation is the globe’s largest industrial co-operative, with workers paying for the right to share in its profits – and its losses. In return for giving more to their employer, they expect more back.
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There is a book “From Mondragon to America” which goes into excruciating detail about how it all works. It’s not just a few factories there are credit unions, food coops and more all doing business together.
think we’re Communists
It’d be cooler if you were.
But definitely cooperatives would be a HUGE improvement over what we have now.
The salary differential between the highest and lowest paid workers in Mondragón, for example, remains about six to one; for the largest 500 listed companies in the US, the gap is closer to 272 to one. At the year end, members of Mondragón’s co-operatives also decide collectively on whether they should pay themselves bonuses and, if so, how much. This profit-sharing comes in addition to a base pay rate that, on average, is 40% above Spain’s minimum wage.
Man where do I sign up??
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not a company town if the employees own the company, then it’s just the employees town.
