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In Spain, thousands of workers each have an equal share in a corporation, a worker's co-op. Seems that cooperatives can exist, and even do well in 2024. Here is the article link: ‘In the US they think we’re communists!’ The 70,000 workers showing the world another way to earn a living
Short summary of the open-access article by The Guardian (<20% in length, for fair usage reasons):
In an article published on April 24, 2024 in The Guardian, Oliver Balch highlights the unique employment relationship between Marisa Fernández and her employer, Eroski, which is part of Mondragón Corporation - the largest industrial co-op in the world. When Fernández experienced personal loss with the death of her husband, Eroski supported her and later, during store renovations, she volunteered to work extra shifts alongside her colleagues. Fernández's experience is a reflection of the cooperative model that Mondragón Corporation embodies, where every worker co-owns and has a stake in the company, leading to a sense of ownership and dedication. The cooperative has grown since its creation in 1956 into a leading force in the Basque economy, with over 70,000 workers and various profitable subsidiaries. Mondragón's human-centric approach originated from a socially engaged form of Catholicism and has become a beacon for the cooperative model as a more humane and egalitarian way of doing business. Despite economic success, Mondragón prioritizes people over capital and looks after workers during tough times as well, as demonstrated by its response to the bankruptcy of Fagor Electrodomésticos in 2013.
Short summary of the open-access article by The Guardian (<20% in length, for fair usage reasons):
In an article published on April 24, 2024 in The Guardian, Oliver Balch highlights the unique employment relationship between Marisa Fernández and her employer, Eroski, which is part of Mondragón Corporation - the largest industrial co-op in the world. When Fernández experienced personal loss with the death of her husband, Eroski supported her and later, during store renovations, she volunteered to work extra shifts alongside her colleagues. Fernández's experience is a reflection of the cooperative model that Mondragón Corporation embodies, where every worker co-owns and has a stake in the company, leading to a sense of ownership and dedication. The cooperative has grown since its creation in 1956 into a leading force in the Basque economy, with over 70,000 workers and various profitable subsidiaries. Mondragón's human-centric approach originated from a socially engaged form of Catholicism and has become a beacon for the cooperative model as a more humane and egalitarian way of doing business. Despite economic success, Mondragón prioritizes people over capital and looks after workers during tough times as well, as demonstrated by its response to the bankruptcy of Fagor Electrodomésticos in 2013.
