I was also born in a former socialist country -Yugoslavia, which was notable for the prevalence of worker-managed firms in its economy. This made it somewhat unique among other socialist countries that used a more centralized approach with state ownership over entire industries.
While it is somewhat different than worker-owned cooperatives in modern market economies it does offer a useful data point. The general conclusion is that they work a bit better than a typical state-owned firm, but are still significantly worse in their economic performance compared to the median private company. This is the reason why despite having plenty of experience with worker-managed firms almost all ex-YU countries today have economies dominated by fully private companies and no one is really enthusiastic about repeating the worker-managed experiment.
I was also born in a former socialist country -Yugoslavia, which was notable for the prevalence of worker-managed firms in its economy. This made it somewhat unique among other socialist countries that used a more centralized approach with state ownership over entire industries.
While it is somewhat different than worker-owned cooperatives in modern market economies it does offer a useful data point. The general conclusion is that they work a bit better than a typical state-owned firm, but are still significantly worse in their economic performance compared to the median private company. This is the reason why despite having plenty of experience with worker-managed firms almost all ex-YU countries today have economies dominated by fully private companies and no one is really enthusiastic about repeating the worker-managed experiment.