Jump to content
Invision Community
FORUMS BLOG/NEWS USER BLOGS USER MEDIA ADVERTS   ADD  MANAGE CHAT CLUBS & USER PERSONAL FORUMS LINK EXCHANGE
SMALL BUSINESS Small Business Online Home Based Business Small Business Finance Starting A Home Business Make Money Online Affiliate Programs Make Money With Pay Per Click AdSense Program Earn Money From Website
Sign in to follow this  
davidtrump

Economic democracy : definition

Recommended Posts

 

Economic democracy is a socioeconomic philosophy that proposes to shift decision-making power from corporate managers and corporate shareholders to a larger group of public stakeholders that includes workers, customers, suppliers, neighbours and the broader public. No single definition or approach encompasses economic democracy, but most proponents claim that modern property relations externalize costs, subordinate the general well-being to private profit and deny the polity a democratic voice in economic policy decisions. In addition to these moral concerns, economic democracy makes practical claims, such as that it can compensate for capitalism's inherent effective demand gap.

Proponents of economic democracy generally argue that modern capitalism periodically results in economic crises characterized by deficiency of effective demand as society is unable to earn enough income to purchase its output production. Corporate monopoly of common resources typically creates artificial scarcity, resulting in socio-economic imbalances that restrict workers from access to economic opportunity and diminish consumer purchasing power. Economic democracy has been proposed as a component of larger socioeconomic ideologies, as a stand-alone theory and as a variety of reform agendas. For example, as a means to securing full economic rights, it opens a path to full political rights, defined as including the former. Both market and non-market theories of economic democracy have been proposed. As a reform agenda, supporting theories and real-world examples range from decentralization and economic liberalization to democratic cooperativespublic bankingfair trade and the regionalization of food production and currency.

wikipedia.org

Share this post


Link to post
Share on other sites
BUSINESS & LEARNING Business Degree Online Marketing Degree Online Economics Degree Online Distance Degree Online Master's Degree Online Online Courses MBA Degree Online Online School Associate Degree Online

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

×
×
  • Create New...