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Economic democracy: why handing power back to the people will fix our broken system

Andrew Cumbers

This is the backdrop for understanding the growing popularity of alternative economic policies that seek to give workers and citizens real power and control over their livelihoods. In the UK, the Labour party’s policies to reverse privatisation and create new more democratic forms of public ownership are massively popular. Even in the US, where there is traditional hostility to ideas seen as “socialist”, public opinion appears to be shifting. A poll carried out by Washington-based think tank the Democracy Collaborative discovered that 55% of people supported the idea of employee ownership funds, while only 20% were opposed.