Is there an alternative?

A perforated corporate veil

Cory Doctorow, February 20, 2026 [Pluralistic]

“Capitalist realism” is the idea that the world’s current economic and political arrangements are inevitable, and that any attempt to alter them is a) irrational; b) doomed; and c) dangerous. It’s the ideology of Margaret Thatcher’s maxim, “There is no alternative.”

Obviously this is very convenient if you are a current beneficiary of the status quo. “There is no alternative” is a thought-stopping demand dressed up as an observation. It means, “Don’t try and think of alternatives.”

The thing is, alternatives already exist and work very well. The Mondragon co-ops in Spain constitute a fully worked out, long-term stable economic alternative to traditional capitalist enterprises, employing more than 100,000 people and generating tangible, empirically measured benefits to workers, customers and the region:

https://en.wikipedia.org/wiki/Mondragon_Corporation

…Brazil’s liability system “represented a distributive choice: prioritizing Brazilian workers’ ability to enforce their rights over foreign capital’s interest in minimizing costs through corporate structuring.”

Pargendler (who teaches at Harvard Law) co-authored a paper with São Paulo Law’s Olívia Pasqualeto analyzing the impact that Brazil’s limited liability system had on capital formation and corporate conduct:

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=6105586 ….