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Latest revision as of 17:43, 3 April 2024
Economic Democracy is a philosophy and school of thought that is closely related to and overlaps with libertarian socailism, particulary mutualism. Economic Democracy argues that capitalism fails to meet its stated goals, which can only be fixed through abolishing various economic hierarchies (notably in the workplace and finance) and creating democratic economic organisations. This is to be done with the creation of co-operatives (mainly worker, consumer and financial) financial reform, legal reintroduction of the commons and universal basic income. It was largely developed among economists and philosophers in the US in the late 20th century.