‘The case… is made with great passion… What he also shows is that there is an alternative to conventional forms of capitalism and that, if managed well, it passes the market test.’ Financial Times
‘…powerfully marshals the case for employee-owned companies… looks like being one of the most influential business books of the year.‘ The Scotsman
‘THE book on employee ownership‘ David Ellerman, retired adviser to the Chief Economist at the World Bank
‘The only business book I’ve ever read to the end.‘ A private communication from the literary editor of a national newspaper.
Used as a set text, in whole or in part, for courses at the universities of Oxford in the UK and Rutgers in the US. Recommended reading at several other universities.
The top retailer in the USA (Publix) and the top retailer in Britain (John Lewis) – ‘top’ in the eyes of their customers – are owned by their employees. So are Zeiss, one of Germany’s great optical engineering companies, and Mondragon, a network of globally successful businesses in Spain.
The story goes on. All round the world, businesses that are owned by their employees are gloriously successful. They grow faster, they are more productive and innovative, they create more jobs and in downturns they hold onto those jobs better, than their conventional counterparts owned by outside shareholders.
Above all, they are great places to work. People love being owners of the business where they work. Instead of being servants of fat cats and their domineering sidekicks, the managers, these employee-owners are full partners in the business – informed, influential and sharing in the wealth created.
Yet the story is ignored by mainstream economists and commentators. The pure ideology that masquerades as business and economic insight leads them to predict that employee owned companies are bound to do badly. This is in the face of overwhelming evidence that actually they do very well indeed.
The good thing is that company by company increasing numbers of businesses are changing to being employee-owned.
This book colourfully sets the record straight.