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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 ...
Because these regimes influence and are influenced by the organization of both social and economic capital, the analysis of dimensions lacking a standard economic value (e.g. the political economy of language, of gender, or of religion) often draws on concepts used in Marxian critiques of capital.
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]
Professor of Entrepreneurship Elias G. Carayannis and Arisitidis Kaloudis, Economics Professor at the Norwegian University of Science and Technology (NTNU), describe democratic capitalism as an economic system which combines robust competitiveness with sustainable entrepreneurship, with the aim of innovation and providing opportunities for ...
The trilemma suggests that the backlash against globalization in the last few decades is rooted in a desire to reclaim democracy and national autonomy, even if it undermines economic integration. [7] Rodrik first presented the trilemma in a 2000 paper. [8]
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 .
Democratic backsliding [a] or autocratization is a process of regime change toward autocracy in which the exercise of political power becomes more arbitrary and repressive. [24] [25] [26] The process typically restricts the space for public contest and political participation in the process of government selection.