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Economic Democracy




Economic democracy means equality in living standard, equality in the quality of schools for the children, equality in personal power, material equality.

Economists write book about their visions of "economic democracy", like this book:

Economic Democracy is a theory proposed by Dr. J.W. Smith as a model to reduce Poverty around the world. He claims the world is in a cycle of "plunder by trade" and is therefore locked into a cycle of violence and war. The three main points he proposes for the removal of poverty around the world are:


  • Eliminate the monopolization of land, Technology , and Finance capital and equalize pay for equally productive work, both within internal economies and between trading nations.

  • Once all nations and all people have access to technology and their labor is paid equally for equally productive work, the buying power of labor in different nations, and within nations, will equalize.

  • Eliminating those monopolies will instantly distribute a share of the wealth to all members of society even as economic efficiency increases and produces more wealth.


He calls this a more "cooperative" and democratic capitalism. He has written two books on the subject:



both are available in free ebook format on the institute for economic democracy site. (1) .


Sources

Institute for Economic Democracy