This is called a 'cooperative' and yes it's totally viable. Every corporation is a democracy, except the shareholders are not always the employees. In a coop, t

This is called a 'cooperative' and yes it's totally viable. Every corporation is a democracy, except the shareholders are not always the employees. In a coop, the shareholders (or at least the majority of shareholders) are employees (usually due to compensation schemes that give employees stock). There are several examples of large coops, such as Mondragon, Winco, Publix, etc. They do not require any extraordinary corporate structure, and are completely compatible with the kind of free market capitalism many 'Western' countries have today.