Owning a Business Under a Democratic Economy

As someone who thinks that humans are capable of an economic system far more stable, equitable, and sustainable than capitalism, I haven’t spent that much time thinking about what a socialist economy would look like in my every day life. When I say socialism, I mean a democratically-managed economy, where the industries and services we all need (like power, the mail, and healthcare) are owned by all of us. But what about businesses? Many internet critics that rail against the evils of socialism and communism conjure up these drab, grey pictures of people waiting in breadlines and a massive unaccountable bureaucracy. And I have to admit – the image is certainly not the kind of world that I want to live in. But are they correct that a democratically-managed economy must certainly turn into such a dystopia? I have been a critic of capitalism for more than twenty years, but I haven’t seen that many descriptions of a post-capitalist economy that really get me excited. Not that they don’t exist – Cooperation Jackson and the World Social Forum immediately come to mind – but they never really make it out of niche circles of activists and into the world of cable news. So I decided to lay about daydreaming what it might look like.

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Owning a Business Under a Democratic Economy