This is the model for health insurance I wrote about at length a few weeks ago, when I posted how the Cuban immigrants in early 20th century Tampa organized successful health insurance co-ops through their social clubs. They also had "socialized" banking to help workers save and invest in their community, and entrepreneurs finance their enterprises. Of course, the Cracker banks and medical establishmnent cried "Socialism!". But they always could be counted to do so whenver they encountered any real competition.

Non-profit, grass-roots, publicly owned and run companies like this combine the best of capitalism and socialism, and it was what the original 19th century socialists and Anarchists visualized as their politico-economic organization before the Leninist-Soviet model of State bureaucratic control hijacked the idea. Profit was not a dirty word, but it was plowed back into discounts, growth and establishing cash reserves for hard times. The hired management could not vote themselves a raise, or a bonus, unless it was approved by the stakeholders' elected governing board. Democracy all the way down the line. What a concept.

Basically, the system works just like capitalism, except the stock holders are the workers, (or in the case of the co-ops, the customers). The people who have a stake in the business, either as employees or customers, are the ones who own it and run it.