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Remarks that Immanuel Kant’s categorical imperative, admonishing us not to treat others as mere means, can be seen to pave the way for an ethics of worker ownership, where the staff decides and assumes the role of residual claimant. Could large corporations convert worker ownership and still prosper and grow? It is in trying to answer this type of question that scholars all over the world have been interested in the development of what is generally regarded as the world’s most famous and most successful worker co‐operative: the Mondragon Co‐operative Complex. After reviewing some of the major reorganizations at Mondragon, summarizes the co‐operative’s economic performance up to 1995. Assesses the prospects of maintaining economic democracy while competing with large transnational corporations which have access to low‐cost labour in the Third World.

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