Property-owning democracy
Political economy system; state intervention allows fair possession distribution / From Wikipedia, the free encyclopedia
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A property-owning democracy is a social system whereby state institutions enable a fair distribution of productive property across the populace generally, rather than allowing monopolies to form and dominate.[1]: 168 This intends to ensure that all individuals have a fair and equal opportunity to participate in the market. It is thought that this system is necessary to break the constraints of welfare-state capitalism and manifest a cooperation of citizens, who each hold equal political power and potential for economic advancement.[2]: 12 This form of societal organisation was popularised by John Rawls, as the most effective structure amongst four other competing systems: laissez-faire capitalism, welfare-state capitalism, state socialism with a command economy and liberal socialism.[3] The idea of a property-owning democracy is somewhat foreign in Western political philosophy, despite issues of political disenfranchisement emerging concurrent to the accelerating inequality of wealth and capital ownership over the past four decades.[4]: 4
Property-owning democracy | |
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A system of social organisation. Part of John Rawls' five structures of social institutions. | |
Caused by | The idea of a property-owning democracy derived from Western political thought. |
Goals | Enabling a fairer distribution of property and political power. |
Methods | This system is implemented through policy reform. |