Last month, the owner of a chain of British hi-fi shops did something unusual. Julian Richer, the founder of Richer Sounds, gave away control of the company to the employees, and even gave them each a £1,000 cash bonus for every year they’ve worked there.
It’s a rare move for company owners to give up their wealth. Is this just generosity, or could it actually be good for business? And could it also be good economics, and even good for the planet?
We’re back for a brand new series of the Weekly Economics Podcast and this week we’re getting excited about inclusive ownership.
Ayeisha is joined by Marjorie Kelly, Executive Vice President and Senior Fellow of The Democracy Collaborative in the US, and Mathew Lawrence, director of the think tank Common Wealth and co-author of a NEF report about inclusive ownership funds.
Enjoying the show? Tweet us your comments and questions @NEF!
Music this week is by A. A. Aalto and Podington Bear
The award-winning Weekly Economics Podcast is brought to you by the New Economics Foundation – the UK's only people powered think tank. Find out more at www.neweconomics.org