When Workers Own the Corporation, economic justice ensues

[99th_Monkey]

President Bernie Sanders would provide incentives and technical support for
creation of worker-owned businesses and/or worker buy-outs of existing
corporations; which is one of many reasons why I'm so excited about his
run for the White House. <-- This is an intergrel part of Bernies plan for
the US economy.



What's Next for the World's Largest Federation of Worker-Owned Co-ops?
Saturday, 20 June 2015 * By Mary Hansen * YES! Magazine

In early May, President Barack Obama visited Nike’s headquarters in Oregon to gather support for the Trans Pacific Partnership, a trade deal between the United States and 11 other Pacific Rim countries. Critics of the deal have charged that it would increase income inequality, weaken labor and environmental protections, and encourage U.S. companies to offshore jobs. With its history of offshoring American jobs, Nike is an obvious ally for the deal, argues commentator Rose Aguilar at The Guardian.

But what if there were an alternative corporate model for the president and other world leaders to shape their thinking around? A model that was still globally competitive but empowered local workers and addresses income inequality?

Mondragon Corporation, a federation of 103 worker-owned cooperatives based in the Basque region of Spain, could provide an example. Unlike Nike, which is controlled by a small group of shareholders, ordinary workers are deeply involved in Mondragon’s decision-making process.

Mondragon made about €11.6 billion ($13.1 billion) in income in 2013. The corporation employs more than 74,000 people around the world. About 60,000 are worker-owners, or “associates,” who own assets in the company and can be elected to the General Assembly, the body that oversees the corporation.

With Mondragon, you won’t find the pay gap between executives and workers that are typical of multinational corporations. Managers at Mondragon cannot make more than six times the salary of their lowest paid workers.

http://www.truth-out.org/news/item/31435-what-s-next-for-the-world-s-largest-federation-of-worker-owned-co-ops
Cool interview ^^^ with Mondragon insider ^^^ at this link^^^