The Corporation, Democracy, and the Idea of the Bicameral Firm *

Abstract

This article introduces this special issue on the bicameral firm. It lays the groundwork by providing a brief overview of the democratic firm in its historical and political context. The article describes the main problems that large undemocratic corporations pose for society; it contrasts the main ways in which theorists and social movements have sought to democratize the firm—from voice-centric models (such as codetermination) to ownership-centric models (such as Employee Stock Ownership Plans and worker cooperatives); and it outlines the historical ebbs and flows of political movements for enhanced workplace democracy. It is within this context that it is fruitful to consider Isabelle Ferreras's powerful proposal for a bicameral firm. The article concludes by considering the real-world prospects for economic bicameralism and highlights a number of questions that Ferreras's proposal motivates us to consider—questions that are urgent and vital for anyone who cares about the future of democracy.