10 Reasons to Hate Capitalism

[99th_Monkey]

199. Someone apparently forgot to tell that to the people in Mondragon

in the Basque region of Spain, where their economy is thriving in the face of the massive world recession and where even the banks are cooperatives. You might try educating yourself on the subject.

Basque co-operative Mondragon defies Spain slump
By Tom Burridge
BBC News, Arrasate, Spain
Economic success stories are rare in recession-hit Spain these days but one can be found in the small northern Basque town of Arrasate, nestling in rolling green hills.

Here lies the headquarters of Mondragon, reckoned to be the world's largest worker co-operative. The name is the same as the town's, when translated from Basque into Spanish.

The unemployment rate in the Basque Country is 15%, and lower in the province of Guipuzcoa, where Mondragon is based. The rate in Spain as a whole is now 25%.

The Mondragon co-operative is a collective of around 250 companies and organisations. They include Mondragon Assembly in Guipuzcoa, which employs some 85 people.
http://www.bbc.com/news/world-europe-19213425