Sure education isn't everything. The average mcds employee is a good person trying to earn an honest living fit to have a beer with but probably not the best source of sound investment advice.
Put to a vote they would all vote to raise their wages to 15/hr and the vast majority would be unemployed in 6 months because I'd be able to get a better burger somewhere else for less money.
Lets use the fishing boat analogy. So a fisherman fishes for 10 years saving his pennies and investing and builds a fishing boat with his bare hands. He (The captain) then hires 3 hands to help him run the fishing boat. If everything simply came down to a vote there would be no incentive for the captain to save for 10 years and build a boat.
If the 4 fishermen had all saved their money together, and pooled their resources to build the boat equally, then they could have equal say in how the fishing operation is run.
When I ask my friends who lived there during that period they unanimously proclaim how much better life is now and how the standard of living has dramatically improved. Many more people can afford cars and there is incentive to work hard.
In Communist Yugoslavia we had something like that. There were companies that were managed by their employees, each having one vote. A proposal that would obtain a majority of votes would get to be implemented.
But it turned out that people would rather vote to use surpluses to pay everyone bonuses than to invest back in production and modernization. Many companies got themselves outcompeted this way, especially compared to their Western counterparts.
It is not a bad idea, but for that system to work you need workers that:
1) are educated in at least basics of economics and management, 2) are ready to take advice of someone with more expertise than them in these subjects, 3) are well off enough that they can sacrifice immediate additional income to enhance company's prospects for the future and 4) care enough.