Mondragon has become so successful that the United Steelworkers have adopted it as the model for the reboot of their union co-op enterprises. If the Mondragon model can be made to work around the world, there is hope for humanity.

If you’re at all familiar with Spain, you likely know that the Basque region of Spain had for centuries been one of the poorest parts of that country. That’s started to change in the past fifty years, and Mondragon’s been a key factor — probably the most important factor — in the growing prosperity of the Basque Country. And that’s all come about by rejecting conventional capitalism in favor of economic democracy.