| Comment | At this point, rather than bang my head against what you clearly believe a co-operative is, I strongly suggest you go and read up the very easy to find information on how the UK's many, many co-operatives are structured and financed, and the various forms they take.
Their very existence, and the role they've played in the UK economy for roughly 150 years, by definition undermines your attempts to argue that they are unviable.
At the very least, understand that there is a whole parallel world of co-operative financing, utilising socialised and/or public money at social discount rates, which has little in common with the world of capital investment you inhabit.
(as an aside, I'd love to know your take on Islamic banking - an entire world of finance without interest!)
For info, I've worked for a co-op, I sit on the board of a co-op, have been involved in setting up several co-ops, own equity in co-ops through community funds, and am a published author on co-ops, and have had a role in the future financing of Scottish co-ops through the new SNIB. |
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