Debating economic democracy

Abstract

Abstract: This chapter identifies two risks of domination in a capitalist economy: workplace domination, the domination of workers deriving from the uncontrolled authority of employers; and macro-economic domination, the domination of citizens deriving from the private control of investment. The chapter sets out a case for mandating some form of ‘workplace republicanism’ (in Nien-hê Hsieh’s terminology) to address workplace domination. It sketches a model of investment democracy to address macro-economic domination. It argues that while not strictly essential to workplace or investment democracy, socialism, the public ownership of productive assets, likely has an important role in addressing the risks of domination in the economy.