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.
That’s corporate socialism, not communism. As someone who lives in the US, I don’t know anyone who would call that communism. #americabad I guess?
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I think the term they used is best: co-operative
You must have a very very very narrow group of people around you.
Corporate socialism? Honestly never heard that. Market Socialism is the form of socialism that seeks to have publicly-traded companies abolished and replaced by co-ops. Mixed with state owned companies in the case of natural monopolies and basic services (transport, electricity, education, health, etc).
Market Socialism is very much aligned with OG Marxism, so I see how red-scared people may call it communism.
