plural ownership of the economy

Owning the workplace, securing the future

At the heart of the debate on community wealth building is a fundamental question about ownership and who or what holds the keys to wealth in our society.

In the midst of record inflation and a crisis where too few people earn enough to be able to feed their children and put a roof over their heads, tackling the unequal distribution of wealth ownership will be fundamental in helping to build a better economic model longer term.

Summit 2020: A more economically democratic recovery

New year, new economy! As we adjust to the bright lights of 2021 the CLES team are looking forward and exploring the prospect of local economic reform as we commence the long journey to Covid-19 recovery. In this spirit we’re sharing write ups of our policy breakout sessions from November’s Community Wealth Building Summit. In the last of this blog series Rachel Bentley considers how the economy can be more broadly held through plural ownership models.

Even before Covid-19, the UK was already one of the most unequal countries in the world in terms of both income and wealth. This trajectory of inequality has been worsening for decades and the pandemic has now both revealed and exacerbated these inequalities. As we face an era of business failure and unemployment that will be compounded by Brexit, what role can plural ownership play in fostering a more economically democratic recovery?
“enable wealth created by communities to be held by them, rather than flowing outwards”
Plural ownership of the economy is one of the five pillars of community wealth building. This pillar seeks to promote locally owned and socially minded enterprises. It encourages more diverse models of enterprise ownership that enable wealth created by communities to be held by them, rather than flowing outwards into the pockets of distant shareholders.