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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.
Robert Dahl believes that the ideal of democracy assumes that political equality is desirable. [5] He goes on to argue that political equality and democracy are supported by the inherent intrinsic equal worth of every person (intrinsic equality) and the tendency of concentrated power to corrupt.
E-democracy aligns with local communities and provides an opportunity for any willing citizen to make a contribution. The essence of an effective e-democracy lies not just in citizen contribution to government activities, but in promoting mutual communication and collaboration among citizens for the improvement of their own communities.
Different variants of aggregative democracy exist. Under minimalism, democracy is a system of government in which citizens have given teams of political leaders the right to rule in periodic elections. According to this minimalist conception, citizens cannot and should not "rule" because, for example, on most issues, most of the time, they have ...
Social democracy is frequently considered a practical middle course between capitalism and socialism. Social democracy aims to use democratic collective action for promoting freedom and equality in the economy and opposes what is seen as inequality and oppression that laissez-faire capitalism causes. [38]
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.
In some nations, economic growth has been observed to promote democracy, while in others the opposite is true. [21] Research done in post-socialist nations has shown increases in political freedom to have little to no effect on economic growth, however changes in political freedom have been influenced by the aforementioned growth. [ 22 ]
Participatory democracy, participant democracy, participative democracy, or semi-direct democracy is a form of government in which citizens participate individually and directly in political decisions and policies that affect their lives, rather than through elected representatives. [1]