The trouble with co-ops

Co-ops have been hailed as a model for a fairer capitalism. But they remain unpopular for a reason, says Matthew Lynn.

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Sir Charlie Mayfield, chairman of John Lewis: there may be trouble ahead
(Image credit: Copyright (c) 2012 Shutterstock. No use without permission.)

Over the last decade, John Lewis Partnership has been the poster child for worker-owned businesses. It is one of the most popular chains in the country and has expanded both its department stores and its Waitrose supermarkets rapidly, while paying bonuses to staff and keeping its customers happy. If motherhood and apple pie went into business it would do so under the John Lewis brand.

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Matthew Lynn

Matthew Lynn is a columnist for Bloomberg, and writes weekly commentary syndicated in papers such as the Daily Telegraph, Die Welt, the Sydney Morning Herald, the South China Morning Post and the Miami Herald. He is also an associate editor of Spectator Business, and a regular contributor to The Spectator. Before that, he worked for the business section of the Sunday Times for ten years. 

He has written books on finance and financial topics, including Bust: Greece, The Euro and The Sovereign Debt Crisis and The Long Depression: The Slump of 2008 to 2031. Matthew is also the author of the Death Force series of military thrillers and the founder of Lume Books, an independent publisher.