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The salaries of Wikimedia executives are sparking an online debate about tech sector wages
(www.businessinsider.com)
this post was submitted on 14 Dec 2023
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Technology
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Look up mondragon Spain. Its a town in Spain whose economy was struggling after WWII. They turned it around by adopting a cooperative business model. This means all employees are owners.
All employees get to vote how the company operates. Executives work for share holders right? With cooperatives, the share holders are employees creating a business Ouroboros where the boss and their boss have an interest in keeping employees Happy. Employees are invested in keeping the company profitable.
They have padded rules like CEO pay is tied to the lowest salary in the company. It can never be more than X amount of the lowest salary. If they want it to raise they have to increase all salaries in the company first.
They don't get filthy stinking rich. But what they have shown is that the people living there score happier than most. They also show that they are economically more resilient. For close to a 100 years they have withstood recessions and economic down turns.
https://www.theguardian.com/world/2013/mar/07/mondragon-spains-giant-cooperative