Get the latest tech news

The Basque Country’s Mondragón Corporation is the largest industrial co-op

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

The list ranges from the sovereignty of labour and democratic organisation (one member, one vote), to wage solidarity and “social transformation” – which includes reinvesting surpluses to create new jobs, supporting local charities and community development projects, and strengthening the Basque Country’s Euskara language. Overlaying these images are facts and figures that would have mainstream financiers salivating: €10.6bn (£9.1bn) in annual revenues; a dozen research and development facilities; a global roster of blue-chip clients; and a diversified sector spread – industry, retail, finance and education. Pinned to a cork noticeboard beside a busy production line are photos of a recent charity run, a printout of donations to local causes (including €60,000 for a nearby organic food association), and a poster about a forthcoming “women in science” event.

Get the Android app