what is social and economic democracy
Answers
Explanation:
social democracy is a political , social and economic philosophy that support economic and social intervention to promote social justice with in the framework of liberal democratic polity and a capitalist mixed economy.
economic democracy is a socioeconomic philosophy that proposes to shift decision making power from corporate manager and corporate shareholders to a larger group of shareholder that. includes workers, customers , supplier , neighbours and the broader public.
Social Democracy
Social democracy is a political, social and economic philosophy that supports economic and social interventions to promote social justice within the framework of a liberal democratic polity and a capitalist mixed economy. The protocols and norms used to accomplish this involve a commitment to representative and participatory democracy, measures for income redistribution and regulation of the economy in the general interest and welfare state provisions.In this way, social democracy aims to create the conditions for capitalism to lead to greater democratic, egalitarian and solidaristic outcomes.Due to longstanding governance by social democratic parties during the post-war consensus and their influence on socioeconomic policy in the Nordic countries, social democracy has become associated in policy circles with the Nordic model in the latter part of the 20th century.
Social democracy originated as a political ideology that advocated an evolutionary and peaceful transition from capitalism to socialism using established political processes in contrast to the revolutionary approach to transition associated with orthodox Marxism.[6] In the early post-war era in Western Europe, social democratic parties rejected the Stalinist political and economic model then current in the Soviet Union, committing themselves either to an alternative path to socialism or to a compromise between capitalism and socialism.In this period, social democrats embraced a capitalist mixed economy based on the predominance of private property, with only a minority of essential utilities and public services under public ownership. As a result, social democracy became associated with Keynesian economics, state interventionism and the welfare state while abandoning the prior goal of replacing the capitalist system (factor markets, private property and wage labour)with a qualitatively different socialist economic system.With the rise of popularity for neoliberalism and the New Right by the 1980s,most social democratic parties incorporated Third Way ideology which aims to fuse liberal economics with social democratic welfare policies.By the 2010s, the Third Way had generally fallen out of favour.
Modern social democracy is characterized by a commitment to policies aimed at curbing inequality, oppression of underprivileged groups and poverty,including support for universally accessible public services like care for the elderly, child care, education, health care and workers' compensation.The social democratic movement often has strong connections with the labour movement and trade unions which are supportive of collective bargaining rights for workers as well as measures to extend decision-making beyond politics into the economic sphere in the form of co-determination for employees and other economic stakeholders.
Economic Democracy
Economic democracy is a system where people share ownership over the resources in their communities and participate equally in deciding how they are used.
What do we mean by “resources”? To us, these are the big things that matter in our daily lives and that make up most of our most basic needs and costs: our housing, our workplaces, our sources of energy, financial services like banking, our educational institutions, our healthcare institutions, even our institutions of government.
Here in the Bronx, people have been trying to figure out how to develop our own understanding and practice of economic democracy for years. While the core values of collective ownership and governance are fundamental, we don’t believe that there is one fixed interpretation of economic democracy that applies to all places at all times. Economic democracy may look different in practice in different places according to the dreams, desires, and visions of local residents.
We want to democratize control of economic assets and also expand the practice of democracy in our daily lives. For us, democracy doesn’t just mean more participation, it is about changing relationships of power.
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