David Schweickart - Economic Democracy

Economic Democracy

In After Capitalism and other works, Schweickart has developed the model of market socialism he refers to as "economic democracy". In his own words "Economic Democracy is a market economy." It embodies several key ideas:

  • Workplace self-management, including election of supervisors
  • Management of capital investment by a form of public banking
  • A market for goods, raw materials, instruments of production, etc.
  • Protectionism to enforce trade equality between nations

The firms and factories are owned by society and managed by the workers. These enterprises, so managed, compete in markets to sell their goods. Profit is shared by the workers. Each enterprise is taxed for the capital they employ, and that tax is distributed to public banks, who fund expansion of existing and new industry.

Read more about this topic:  David Schweickart

Famous quotes containing the words economic and/or democracy:

    ... feminism is a political term and it must be recognized as such: it is political in women’s terms. What are these terms? Essentially it means making connections: between personal power and economic power, between domestic oppression and labor exploitation, between plants and chemicals, feelings and theories; it means making connections between our inside worlds and the outside world.
    Anica Vesel Mander, U.S. author and feminist, and Anne Kent Rush (b. 1945)

    The chief lesson of the Depression should never be forgotten. Even our liberty-loving American people will sacrifice their freedom and their democratic principles if their security and their very lives are threatened by another breakdown of our free enterprise system. We can no more afford another general depression than we can afford another total war, if democracy is to survive.
    Agnes E. Meyer (1887–1970)