Category Archives: Economic democracy

Third principle of Economic Democracy

3) The third requirement for economic democracy is that all the resources in a socio-economic unit should be controlled by the local people. In particular, the resources which are required to produce the minimum requirements must be in local hands, and all the industries based on these resources will have to be controlled entirely by the local people. Local raw

Fourth Principle of Economic Democracy

4) The fourth requirement for Economic Democracy is that production should be based on consumption, not profit. Most countries in the world have adopted economic systems which are profit oriented – that is, production is undertaken for profit. Producers give first preference to those items which bring maximum profit, so everywhere there is keen competition regarding the production of the

Fifth Principle of Economic Democracy

5) The fifth requirement for economic democracy is that production and distribution should be organized through cooperatives. One of the principal reasons for the past failure of the cooperative movement is economic centralization. It is extremely difficult for cooperatives to succeed in an economic environment of exploitation, corruption and materialism, so people cannot accept the cooperative system wholeheartedly. Cooperatives are

Sixth Principle of Economic Democracy

6) The sixth requirement for economic democracy is the local people must be employed in local economic enterprises. Unless the local people are fully employed in the local economy, unemployment can never be solved. Local people should determine the quantum of minimum requirements and the basic policies connected with their own economic well-being. If this principle is followed the problem

Seventh Principle of Economic Democracy

7) The seventh principle of economic democracy is that commodities which are not locally produced should be removed from the local markets. As decentralized economy aims to develop local industries and create employment for the local population, those commodities which are not produced within the local area should be banished from the local market as far as possible. It is

Eight Principle of Economic Democracy

8) The eight principle of Economic Democracy is that planning should function on various levels such as the block, district, state, national and global levels, but block-level planning will be the basic level of planning. Block-level planning is essential for economic decentralization, so it should be adopted in all blocks. There should be provision in the constitution for block-level planning

What is Democracy, Really?

By Taraka

“Humanity is outraged in me and with me. We must not dissimulate, nor try to forget this indignation, which is one of the most passionate forms of love. We must make great efforts in behalf of brotherhood [and sisterhood,] to repair the ravages of hate. We must put an end to the scourge, wipe out infamy with scorn