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Economic democracy is a socioeconomic philosophy that suggests an expansion of decision-making power from a small minority of corporate shareholders (owners) to a larger majority of public stakeholders(nonowners). While there is no single definition or approach, most theories and real-world examples of economic democracy are based on the assumption that modern property relations tend to deny the populace majority a democratic voice in economic policy decisions by giving private profit precedence over general well-being.[1]
Classical liberals argue that the power to dispose of the means of production belongs to entrepreneurs and capitalists, and can only be acquired by means of the consumers' ballot, held daily in the marketplace.[2] "Th

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