ABSTRACT
“Economic democracy,” unlike the private ownership of the means of production under capitalism or state ownership and planning under socialism, would extend democracy into the workplace and the linked spheres of finance and investment. Workers would control their own jobs and workplaces, while productive resources would become the collective property of society and investment decisions would be under social control. The framework would include a right to employment, a reconstituted financial sector, an “entrepreneurial-capitalist” sector to drive marketplace innovation, and a “social tariff” to encourage healthy, fair trade between nations.
