A huge worker cooperative exists in Spain called Mondragon. If you want to learn how it works, check out this link : http://en.wikipedia.org/wiki/Mondragon_Corporation
Its rather inspiring. From the wiki:
“The Mondragon system is one of four case studies analyzed in Capital and the Debt Trap, which summarized evidence claiming that cooperatives tend to last longer and are less susceptible to perverse incentives and other problems of organizational governance than more traditionally managed organization.”
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