John Lewis. Say it, then pay for it.
John Lewis is employee owned: every worker is a partner and profits are shared. It proves there is a better way to do capitalism, and it is struggling to survive.
THE GIST ON JOHN LEWIS: "What We Say, What We Do"
What makes John Lewis different?
It is a partnership. When the business does well, everyone does well. There are no shareholders or private equity extracting value, and its customers are as close to a cross-section of Britain as any shop gets.
It is the model everyone says they want. But it is struggling.
What is going wrong?
It has cut the bonus partners depend on, closed shops, and written off billions in a failed property venture, because the world it was built for has gone.
It can't compete with Amazon on speed and price. The trust, service and experience of a John Lewis is exactly what we don't want to pay for.
What is really at stake?
Every conversation about what's wrong with capitalism, the short termism, the inequality, the shareholder obsession, has John Lewis as living proof you can treat people properly and still compete. It has been that company for a hundred years.
We say we want ethical businesses. But we reward convenience. The businesses we admire most and the ones we actually use aren't always the same. What kind of economy do we get if the only survivors are the ones we don't believe in?
Would you pay more to shop at an ethical business?
Your take. One tap, then see how everyone else voted.
Quick answers
Who owns John Lewis?
Its workers. Every employee is a partner and profits are split between them.
Why is John Lewis struggling?
It has cut the partner bonus, closed shops and written off billions in a failed property venture, and can't match Amazon on speed and price.
What is the bigger question?
What kind of economy we end up with if the only businesses that survive are ones we don't believe in.
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