John Lewis’ member-owned business model was the gospel in action

John Spedan Lewis was one of many philanthropist business owners birthed by the Victorian era. Whether his desire to create a wealth structure that benefitted all came from a Christian faith or not, there is much to commend it, says George Pitcher. And much to miss if it is no more.

Capitalism has been through a rough patch lately. Its latest crisis of confidence can be traced to the global financial meltdown of 2008, when egregious mortgage lending unwound catastrophically and rich bankers were seen to have privatised their profits while nationalising the risk, as considerably poorer taxpayers baled them out.

That was exacerbated in 2009 by the MP’s expenses scandal, with our ruling elite apparently coining it at the expense of the electorate. The bosses of capitalism looked like tin idols. We became lairy of conservatism’s relationship with capitalism – there is perhaps a direct continuum between Neil Hamilton’s “cash-for-questions” in the 90s and Boris Johnson’s self-interests, as he sits before his own inquisition, nearly 30 years later. Follow the money, as the saying goes.