ABSTRACT
Plato's answer to the transition question is well known: Either philosophers become kings in their countries or kings become philosophers. Although the likelihood of an abrupt transition from advanced capitalism to Economic Democracy is remote indeed, it is not so difficult to envisage how such a transition could take place. Of course, few people are thinking about a transition from a command economy to Economic Democracy. The economic structures that had industrialized those nations proved unable to deliver on consumer goods. Insofar as attitudes about economic security and fairness stand in the way of the reckless reforms are being pushed, a socialist can only applaud. It should be clear that Economic Democracy will lack certain features that give command socialism the advantages just noted. Economic Democracy, like command socialism, is committed to full employment, so there should be fewer people economically vulnerable than under capitalism.
