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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.
"A sphere of life calls forth interests arising only within that sphere. Out of the economic sphere one can develop only economic interests. If one is called out of this sphere to produce legal judgements as well, then these will merely be economic interests in disguise.". [1] Social threefolding aims to foster: equality and democracy in ...
Jeffrey Herbst, in his paper "War and the State in Africa" (1990), explains how democratization in European states was achieved through political development fostered by war-making and these "lessons from the case of Europe show that war is an important cause of state formation that is missing in Africa today."
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]
Under different regimes, political phenomena have a different meaning, and as such, it is not surprising that economic actors react differently. Under dictatorships, whenever the regime is threatened, or there are expected changes, workers or masses of people assemble to strike and protest against their opposition, that is the government, and ...
Historians have employed political economy to explore the ways in the past that persons and groups with common economic interests have used politics to effect changes beneficial to their interests. [50] Political economy and law is a recent attempt within legal scholarship to engage explicitly with political economy literature.
Economic liberalization also often involves reductions of taxes, social security, and unemployment benefits. Economic liberalization is often associated with privatization, which is the process of transferring ownership or outsourcing of a business, enterprise, agency, public service or public property from the public sector to the private sector.
No theologian "has yet assessed the theological significance of democratic capitalism",(p13) the society of "three dynamic and converging systems functioning as one: a democratic polity, an economy based on markets and incentives, and a moral-cultural system which is pluralistic and, in the largest sense, liberal."(p14) The link is not an accident.