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August 07, 2018



In English law, shareholders do not own the company in which they have shares. This surprising fact means there can be no objection on property rights grounds to employees running the companies they work for.

Of course, worker control is extremely fiercely resisted by the ruling class and its shills (eg the IEA), and fat cat directors, because such a measure represents a massive transfer of power from Capital to Labour. They don't like this one bit.

Miguel Madeira

"In fact, there might well be a case for going further, and favouring fan ownership (pdf) of football clubs."

"fan ownership" is largely the organization model of the Portuguese football clubs: usually for a team there is the "club" (an association of fans) and the "S.A.D. - sociedade anónima desportiva" ("sports public limited company"), and the club owns the majority of the shares of the S.A.D.; but by the Portuguese example this not seem to be a model of good management


This reminds me of an odd little piece I wrote at the time of the Glazers' takeover at Man U.


There's only one way to do things; that's just the way things are, and its partisans will remind you of that fact as often as you like. It's just the way things are, until it isn't.

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