Second, production would take place in firms controlled by workers (thus fostering democracy throughout the workplace). Third, balanced “job complexes” are put in place during which staff can each interact in intellectual and guide labor (thus fostering and generalizing self-realization).
For instance, to chop prices and maximize profits, companies select work-saving technologies and lay off employees. But at the aggregate stage, this erodes the demand for their merchandise, which forces companies to cut prices further (by shedding much more workers or halting production). Socialism would, it has been argued, not be so vulnerable to crises, because the rationale for manufacturing would not be revenue maximization however want satisfaction. Although essential, this line of criticism is less widespread amongst contemporary socialists.
This would turn the financial system into an area of deliberative democracy. A traditional criticism of capitalism (particularly amongst Marxists) is that it’s inefficient. Capitalism is prone to cyclic crises … Read More