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    Economic democracy

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    msistarted0

    Posts : 358
    Join date : 2010-11-09

    Economic democracy

    Post by msistarted0 on Tue Jan 11, 2011 9:16 am

    Economic democracy is a socioeconomic philosophy that suggests an expansion of decision-making power from a small minority of corporate shareholders (owners) to a larger majority of public stakeholders(nonowners). While there is no single definition or approach, all theories and real-world examples of economic democracy are based on the assumption that capitalist property relations deny wage and salary workers and communities a democratic say in economic decisions, and systemically give private profit precedence over general well being.

    As either a component of larger socioeconomic ideologies or as a stand-alone theory, economic democracy promotes universal access to "common resources" that are typically privatized by corporate capitalism or centralized by state socialism. Assuming full political rights cannot be won without full economic rights,[1] economic democracy suggests alternative models and reform agendas for solving problems of economic instability and deficiency of effective demand. As an alternative model, both market and non-market theories of economic democracy have been proposed. As a reform agenda, supporting theories and real-world examples include democratic cooperatives, fair trade, social credit, and the regionalization of food production and currency.

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