Economic alternative

This contribution is added in early February 2009 after a major economic collapse around the world and much discussion of the need for some form of much stronger world wide economic monitoring to prevent a repeat occurrence.
That raises the question - is there an alternative to capitalism?
An affirmative answer to that question can be found by Googling "Mondragon" where details of a successful commercial enterprise based on the primacy of labour, rather than capital, are featured.
Here are a few quotes from one of the Mondragon sites:
* The cooperatives do not discriminate on the bsis of religion, politics, ethnicity or sex.

  • All authority is vested in the "general assembly" which consists of all the worker owners of the enterprise, one person one vote. The general assembly elects the "Governing Council" which would be like the Board of Directors, which appoints (and removes) the organisation's management.
  • Generally, a corporation sells shares of ownership and management to raise capital, and then hires labour. The Mondragon Cooperatives do not sell shares in order to raise capital. Here, the workers own the corporation and the management and rent the capital. and
  • In the Mondragon cooperatives …. Labour is granted full sovereignity in the organisation of the cooperative enterprise, the wealth created is distributed in terms of the lobour provided (and not on the basis of shareholdings) and there is a firm commitment to the creation of new jobs.

If you think that sort of approach has any sort of value, visit the Mondragon site for more information.
Locally, in Wellington, I believe the Council should encourage such a cooperative approach through the policies it adopts and the decisions it makes.

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