ABSTRACT
The socialist vision includes democracy in political processes and democracy in the economy. Different visions of socialism encompass several different mechanisms of economic democracy. The capitalist market economies not only exploit workers but have vast number of unemployed workers and unused factories in every recession. The Soviet economy has bureaucratic planning, that is, dictatorship plus government ownership plus central planning. The Soviet economy has bureaucratic planning, that is, dictatorship plus government ownership plus central planning. Mandel favors democratic planning, that is, public ownership and central planning plus a democratic political system. The lack of large private fortunes and the more equal distribution of income would give a much firmer foundation to political democracy, which would no longer be controlled by private wealth. Unlike capitalism, profits would not go to private owners. Unlike central planning, profits would not go to government.
