Economic democracy in the context of "Local food"

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⭐ Core Definition: Economic democracy

Economic democracy (sometimes called a democratic economy) is a socioeconomic philosophy that proposes to shift ownership 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. No single definition or approach encompasses economic democracy, but most proponents claim that modern property relations externalize costs, subordinate the general well-being to private profit and deny the polity a democratic voice in economic policy decisions. In addition to these moral concerns, economic democracy makes practical claims, such as that it can compensate for capitalism's inherent effective demand gap.

Proponents of economic democracy generally argue that modern capitalism periodically results in economic crises, characterized by deficiency of effective demand; as society is unable to earn enough income to purchase its own production output. Corporate monopoly of common resources typically creates artificial scarcity, resulting in socio-economic imbalances that restrict workers from access to economic opportunity and diminish consumer purchasing power. Economic democracy has been proposed as a component of larger socioeconomic ideologies, as a stand-alone theory and as a variety of reform agendas. For example, as a means to securing full economic rights, it opens a path to full political rights, defined as including the former. Both market and non-market theories of economic democracy have been proposed. As a reform agenda, supporting theories and real-world examples can include decentralization, democratic cooperatives, public banking, fair trade and the regionalization of food production and currency.

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Economic democracy in the context of Social democracy

Social democracy is a social, economic, and political philosophy within socialism that supports political and economic democracy and a gradualist, reformist, and democratic approach toward achieving social equality. In modern practice, social democracy has taken the form of democratic socialism, a robust welfare state, policies promoting social justice, market regulation, and a more equitable distribution of income.

Social democracy maintains a commitment to representative and participatory democracy. Common aims include curbing inequality, eliminating the oppression of underprivileged groups, eradicating poverty, and upholding universally accessible public services such as child care, education, elderly care, health care, and workers' compensation. Economically, it supports income redistribution and regulating the economy in the public interest.

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Economic democracy in the context of Labour movement

The labour movement is the collective organisation of working people to further their shared political and economic interests. It consists of the trade union or labour union movement, as well as political parties of labour. It can be considered an instance of class conflict.

The labour movement developed as a response to capitalism and the Industrial Revolution of the late 18th and early 19th centuries, at about the same time as socialism. The early goals of the movement were the right to unionise, the right to vote, democracy, safe working conditions and the 40-hour week. As these were achieved in many of the advanced economies of Western Europe and North America in the early decades of the 20th century, the labour movement expanded to issues of welfare and social insurance, wealth distribution and income distribution, public services like health care and education, social housing and in some cases common ownership.

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Economic democracy in the context of Democratic socialism

Democratic socialism is a left-wing economic and political philosophy that supports political democracy and some form of a socially owned economy, with a particular emphasis on economic democracy, workplace democracy, and workers' self-management within a market socialist, decentralised planned, or democratic centrally planned socialist economy. Democratic socialists argue that capitalism is inherently incompatible with the values of freedom, equality, and solidarity and that these ideals can only be achieved through the realisation of a socialist society. Although most democratic socialists seek a gradual transition to socialism, democratic socialism can support revolutionary or reformist politics to establish socialism. Democratic socialism was popularised by socialists who opposed the backsliding towards a one-party state in the Soviet Union and other countries during the 20th century. In Scandinavian countries as well as others, people often use "social democracy" and "democratic socialism" interchangeably to describe leftist movements aiming for gradual, democratic reform.

The history of democratic socialism can be traced back to 19th-century socialist thinkers across Europe and the Chartist movement in Britain, which somewhat differed in their goals but shared a common demand for democratic decision-making and public ownership of the means of production and viewed these as fundamental characteristics of the society they advocated for. From the late 19th to the early 20th century, democratic socialism was heavily influenced by the gradualist form of socialism promoted by the British Fabian Society and Eduard Bernstein's evolutionary socialism in Germany.

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Economic democracy in the context of Left-wing populism

Left-wing populism, also called social populism, is a political ideology that combines left-wing politics with populist rhetoric and themes. Its rhetoric often includes elements of anti-elitism, opposition to the Establishment, and speaking for the common people. Recurring themes for left-wing populists include economic democracy, social justice, and skepticism of globalization. Socialist theory plays a lesser role than in traditional left-wing ideologies.

Criticism of capitalism and globalization is linked to unpopular United States military operations, especially those in the Middle East. It is considered that the populist left does not exclude others horizontally and relies on egalitarian ideals. Some scholars also speak of nationalist left-wing populist movements, a feature exhibited by the Sandinista Revolution in Nicaragua or the Bolivarian Revolution in Venezuela. Unlike right-wing populism, left-wing populist parties tend to be supportive of minority rights, as well as to an idea of nationality that is not delimited by cultural or ethnic particularisms. Bernie Sanders and Alexandria Ocasio-Cortez, self-described democratic socialists, are examples of modern left-wing populist politicians in the United States. With the rise of Syriza and Podemos during the European debt crisis, there has been increased debate on new left-wing populism in Europe.

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Economic democracy in the context of Leftism

Left-wing politics or leftism is the range of political ideologies that support and seek to achieve social equality and egalitarianism, often in opposition to social hierarchy either as a whole, or to certain social hierarchies. Left-wing politics typically involve a concern for those in society whom its adherents perceive as disadvantaged relative to others as well as a belief that there are unjustified inequalities that need to be reduced or abolished, through radical means that change the nature of the society they are implemented in.

Ideologies considered to be left-wing vary greatly depending on the placement along the political spectrum in a given time and place. At the end of the 18th century, upon the founding of the first liberal democracies, the term Left was used to describe liberalism in the United States and republicanism in France, supporting a lesser degree of hierarchical decision-making than the right-wing politics of the traditional conservatives and monarchists. In modern politics, the term Left typically applies to ideologies and movements to the left of classical liberalism, supporting some degree of democracy in the economic sphere.

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