The problem with capitalism is the non-cooperative firms that exist. A democratic economy is an economy where all firms are mandated to be worker cooperatives
Cooperatives operate on equal votes, not equity, which is a potential problem in itself. Equal votes over who has the bigger stake. Liberal economics is better. Trying to impose a system instead of simply giving economic agents the freedom, and make suggestions themselves on how best to form and run business. Equality isn’t a economic good.
The arguments for worker coops are based on liberal economics (https://www.ellerman.org/inalienable-rights-part-i-the-basic-argument/). To summarize, the workers are jointly de facto responsible for using up inputs to produce outputs, so by the norm that legal and de facto responsibility should match, they should be assigned the whole product of the firm. Anything else would be unjust.
Equal votes doesn’t mean equal pay. Workers can divide the pie however they prefer. In existing worker coops, not everyone gets paid the same.
You mean a cooperative? Those already exist. No need for “democratic economy”.
The problem with capitalism is the non-cooperative firms that exist. A democratic economy is an economy where all firms are mandated to be worker cooperatives
@economy
Cooperatives operate on equal votes, not equity, which is a potential problem in itself. Equal votes over who has the bigger stake. Liberal economics is better. Trying to impose a system instead of simply giving economic agents the freedom, and make suggestions themselves on how best to form and run business. Equality isn’t a economic good.
The arguments for worker coops are based on liberal economics (https://www.ellerman.org/inalienable-rights-part-i-the-basic-argument/). To summarize, the workers are jointly de facto responsible for using up inputs to produce outputs, so by the norm that legal and de facto responsibility should match, they should be assigned the whole product of the firm. Anything else would be unjust.
Equal votes doesn’t mean equal pay. Workers can divide the pie however they prefer. In existing worker coops, not everyone gets paid the same.
@economy