Changing the world one step at a time by example: Building on the New Lanark Legacy

New Lanark demonstrates that ethical business practices can coexist with profitability, challenging contemporary economic assumptions. Robert Owen's cotton mill, owned by investor-owners, proved profitable while treating employees and families with dignity during 19th-century Scotland. This model shows that ethical imperatives, if aligned with competitive strategies, can drive productivity and profitability without increasing average costs. The study highlights the potential for investor-owned firms to be both ethical and successful, provided investors prioritize ethics and recognize its profitability. While employee co-operatives share similar benefits, they remain rare. New Lanark's legacy offers a practical framework for building ethical, profitable businesses in today's competitive landscape.

Altman, M. (2023). Changing the world one step at a time by example: Building on the New Lanark Legacy. Journal of Co-Operative Studies, 56(3), 50–62. https://doi.org/10.61869/swyj5919