In the 21st century, are joint stock companies the best form of corporate governance. There’s a lot of justice in arguing for either worker or consumer co-ops. The arguments for consumer co-ops being the dominate form of governance in financial services seem overwhelming to me. Thatcher of course created laws where the previous generation of mutual’s de-mutualised; they have since been bought by banks and in several cases caused them fatal damage.


One thought on “Co-ops

  1. Dave says:

    We could convert the shares to bonds for the banks, but not only are they too big to fail, they’re too big to manage.

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