Since I just wrote about something similar, I thought it worth linking to an Angry Bear post on cooperatives. I haven't had time to watch the video but it provides a bit more information on their importance (including Mondragon).
The only thing I have to add is that I am skeptical how much room there is for the growth of cooperatives given the extreme levels of wage inequality in the US. As I stated, I believe a system that alters manager's incentives so that they use profits to achieve the same goal would gain more traction given current economic realities. I admit, however, that worker cooperatives have more intuitive appeal and would more directly address extreme levels of executive compensation which my thoughts do not.