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The Pay Check

Spain: A Time-Tested Model for Economic Security

The Pay Check

Bloomberg

Society & Culture, Business, Investing

4.4630 Ratings

🗓️ 30 June 2022

⏱️ 33 minutes

🧾️ Download transcript

Summary

For the last seven weeks, we’ve gone around the world to see how the pandemic led to more or less economic equality. There were some pleasant surprises and some devastating stories. In the season finale, we ask: what about the next crisis? How do we ensure more stability and security when something earth shattering inevitably comes along? That led reporter Jeannette Neumann to a small town in Spain’s Basque region, which boasts a strong track record of security and stability, thanks to a crisis-tested economic model.

See omnystudio.com/listener for privacy information.

Transcript

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0:00.0

This is an IHeart podcast.

0:04.2

A warming planet, complex geopolitics and fierce competition means business operations are under more scrutiny than ever before.

0:13.0

Returning to Singapore this July, the Bloomberg Sustainable Business Summit is uniting leaders and investors

0:19.0

to explore how sustainability efforts can bolster resilience

0:22.9

and mitigate risk. Learn more at Bloomberg.com slash sbsd-SBS-Singapore. That's Bloomberg

0:29.7

live.com slash sbs-sdash Singapore.

0:50.9

About six months into the pandemic, an Ohio-based cooperative network received an influx of requests from small businesses that wanted to turn themselves into worker-owned co-ops.

0:56.0

For a lot of folks, they have been unhappy with how their current jobs, the current economy has been working for them.

0:57.4

And the idea of being part of something truly holding workers as the most important piece

1:02.7

is really, really attractive.

1:04.8

That's Ellen Beera.

1:06.0

She's the director of co-op organizing at Co-op SINCII, a network of around a dozen cooperative businesses

1:12.4

in Cincinnati, Ohio, where workers manage, own, and ultimately share in the profits of their labor.

1:19.7

Co-OPSCENCENCENCENC has been around for about a decade, but in that fall of 2020 alone,

1:25.0

it got applications to help another dozen businesses go co-op. One of the

1:29.7

businesses that reached out was the Shine Nurture Center, a Montessori-style daycare next to the

1:35.3

lush Mount Airy Forest in Cincinnati. As the pandemic dragged on, its founder and owner wanted to

1:41.0

move on. Like many people, she was reevaluating her life and decided to go back

1:46.3

to school. But she didn't want to shut down the center she'd built and run for the last six years.

1:52.2

So she decided to sell it, to the teachers who worked there. My name is Beth Pegg. I work here

1:58.6

at Shine Nurture Center Cooperative, and I'm currently the office

2:01.7

manager. We are a nature-based center, so we're mostly outside in Mount Airy. We're very lucky we have

...

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