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The David McWilliams Podcast

The Economics of Employee Ownership

The David McWilliams Podcast

David McWilliams

News & Politics

4.6643 Ratings

🗓️ 6 April 2025

⏱️ 34 minutes

🧾️ Download transcript

Summary

What if the future of capitalism isn’t tech or tax, but trust? This week, we’re talking about Employee Ownership Trusts: a radical rethink of who gets to own the companies we work for. We’re joined by Alan Coleman of Wolfgang Digital, the first Irish company to take the leap and hand ownership to its staff. It’s a story about building businesses that are more productive, more democratic and maybe even more human. From colonial corporations to AI takeovers, we trace why this small idea could be the start of something huge. And if you're a digital marketer who wants to own where you work, Wolfgang is hiring. Head to wolfgangdigital.com/careers to find out more.

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Transcript

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0:00.0

To understand the economy, you have to understand human nature.

0:06.6

This podcast is powered by ACAST.

0:12.7

How are you doing there?

0:13.8

It is time for the podcast, and this is a special one,

0:16.4

because we're going to be talking, John, about a new notion,

0:19.8

which is called Employee Ownership Trusts. Now, what this is, John, about a new notion which is called employee ownership trusts.

0:23.0

Now, what this is, John, what this is, is it imagines a future where workers become shareholders

0:28.8

in their own businesses. And it imagines a future where the key to unlocking that's innovation

0:34.3

and productivity and resilience wasn't just technology or management,

0:39.0

but the very fact that workers own the gig themselves and therefore they use more of

0:46.0

their own noggin to get things done. That's a really, really interesting idea.

0:50.5

Yeah, look, it sounds brilliant, it's really interesting. It's like a really novel approach.

0:54.4

Yeah, and it's taking, I wouldn't say things by storm, but it's gradually becoming

0:59.1

on the radar screen, right?

1:01.1

Now, leading to change in Ireland is a company called Wolfgang Digital, which is the

1:04.9

first company to make the leap.

1:06.9

We're going to be speaking just now, John, to Alan Coleman, the CEO of Wolfgang Digital,

1:12.4

to explore how employee ownerships can transform companies, can empower workers, can get people

1:18.4

to work smarter, not longer, and can even change capitalism itself.

1:23.0

So let's get right into it.

1:25.8

Now, in the later part of the 19th century, a chap called Karl Marx talked about workers,

1:32.5

the proletariat, ascending the heights.

...

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