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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.
Effects of democracy on economic growth and effect of economic growth on democracy can be distinguished. While evidence of a relationship is irrefutable, [ 1 ] economists' and historians' opinions of its exact nature have been sharply split, hence the latter has been the subject of many debates and studies.
Social democratic theorist Robin Archer wrote about the importance of social corporatism to social democracy in his work Economic Democracy: The Politics of a Feasible Socialism (1995). [200] As a welfare state, social democracy is a specific type of welfare state and policy regime described as being universalist, supportive of collective ...
Inclusive democracy is a political theory and political project that aims for direct democracy in all fields of social life: political democracy in the form of face-to-face assemblies which are confederated, economic democracy in a stateless, moneyless and marketless economy, democracy in the social realm, i.e. self-management in places of work ...
Athenian democracy – democracy in the Greek city-state of Athens developed around the fifth century BCE, making Athens one of the first known democracies in the world, comprising the city of Athens and the surrounding territory of Attica. It was a system of direct democracy, in which eligible citizens voted directly on legislation and ...
Types of democracy refers to the various governance structures that embody the principles of democracy ("rule by the people") in some way. Democracy is frequently applied to governments (ranging from local to global ), but may also be applied to other constructs like workplaces, families, community associations, and so forth.
Jay Leno offered some positive thoughts on the role democracy played in the 2024 U.S. presidential election shortly after news organizations called the race for former President Donald Trump.
Democratic capitalism, also referred to as market democracy, is a political and economic system that integrates resource allocation by marginal productivity (synonymous with free-market capitalism), with policies of resource allocation by social entitlement. [1]