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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 ...
An Economic Theory of Democracy is a treatise of economics written by Anthony Downs, published in 1957. [1] The book set forth a model with precise conditions under which economic theory could be applied to non- market political decision-making .
In "Non-Modernization" (2022), Daron Acemoglu and James A. Robinson argue that modernization theory cannot account for various paths of political development "because it posits a link between economics and politics that is not conditional on institutions and culture and that presumes a definite endpoint—for example, an 'end of history'." [83]
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]
In some nations, economic growth has been observed to promote democracy, while in others the opposite is true. [21] Research done in post-socialist nations has shown increases in political freedom to have little to no effect on economic growth, however changes in political freedom have been influenced by the aforementioned growth. [22]
In migration policy, for example, both sociocultural and economic issues are at play. The view that the Right can be defined by its acceptance of state intervention into the domestic sphere (little 'personal freedom') and the Left by its rejection, is false. In the U.S., the Right generally opposed gun control, while the Left argues for it.
Democratic globalization is a social movement towards an institutional system of global democracy. [1] One of its proponents is the British political thinker David Held.In the last decade, Held published a dozen books regarding the spread of democracy from territorially defined nation states to a system of global governance that encompasses the entire world.