Search results
Results from the WOW.Com Content Network
Economic democracy (sometimes called a democratic economy [1] [2]) is a socioeconomic philosophy that proposes to shift ownership [3] [4] [5] and decision-making power from corporate shareholders and corporate managers (such as a board of directors) to a larger group of public stakeholders that includes workers, consumers, suppliers, communities and the broader public.
Democratic capitalism is a type of political and economic system [3] characterised by resource allocation according to both marginal productivity and social need, as determined by decisions reached through democratic politics. [1] It is marked by democratic elections, freedom, and rule of law, characteristics typically associated with democracy.
Democracy is associated with higher human capital accumulation, lower inflation, lower political instability, and higher economic freedom. [11] Democracy is closely tied with economic sources of growth, like education levels and lifespan through improvement of educative institutions as well as healthcare.
An economic system, or economic order, [1] is a system of production, resource allocation and distribution of goods and services within a society. It includes the combination of the various institutions, agencies, entities, decision-making processes, and patterns of consumption that comprise the economic structure of a given community.
A system in which opposition is prohibited, civil rights are extremely suppressed and virtually all aspects of social life, including the economy, morals, public and private lives of citizens, are controlled by a centralized authoritarian state that holds absolute political power, usually under a dictatorship or single political party. [58]
A state-directed economy is a system where either the state or worker cooperatives own the means of production, but economic activity is directed to some degree by a government agency or planning ministry through mechanisms such as indicative planning or dirigisme. This differs from a centralized planned economy, or a command economy, in that ...
A planned economy is a type of economic system where investment, production and the allocation of capital goods takes place according to economy-wide economic plans and production plans. A planned economy may use centralized , decentralized , participatory or Soviet-type forms of economic planning .
The rationale behind this practice was to avoid lobbying and electioneering by economic oligarchs. The system of deliberative democracy is a mix between a majority-ruled system and a consensus-based system. It allows for representative democracies or direct democracies to coexist with its system of governance, providing an initial advantage. [39]