NEF: Inclusive Ownership

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? The New Economics Foundation is back for a brand new series of the Weekly Economics Podcast. Ayesha Thomas-Smith 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.