Comments on: Economic democracy: the next big left idea? http://www.redpepper.org.uk/economic-democracy-the-next-big-left-idea/ Red Pepper Sat, 16 Feb 2013 17:28:54 +0000 hourly 1 http://wordpress.org/?v=3.4.1 By: Sam Watson http://www.redpepper.org.uk/economic-democracy-the-next-big-left-idea/#comment-51104 Sam Watson Tue, 08 May 2012 12:20:22 +0000 http://www.redpepper.org.uk/?p=7234#comment-51104 I agree with the idea of promoting elements of syndicalism and cooperativism as well as moving away from the paradigm of maximising shareholder value - all things which you allude to in this article. Worker cooperatives and trade unions could ensure wages go up in line with productivity, although specific legislation could also help this, such as tying the minimum wage to the mean average wage. However, I disagree that CEOs should be made criminally liable for the actions of a company; part of the blame rests with the legislators for allowing the situation to arise in the first place, it is in a sense entrapment to punish them for doing what you said they could do. I think it was probably fairly predictable what would happen once leverage controls etc. were lifted. Also, the concept of a limited liability company protects entrepreneurs; a nationalised banking system that favored sustainable, small businesses in the UK and that was more patient with returns to capital would also help. I also support the idea of having to prove the societal benefit of financial instruments to a regulator before they can be used - as is the case with medicine. The greatest problem is that there is no sense of society any more. Welfare promoting policies of the post war era were only really possible because of the sense of togetherness that was there. Any policy that promotes unity is surely invaluable. I agree with the idea of promoting elements of syndicalism and cooperativism as well as moving away from the paradigm of maximising shareholder value – all things which you allude to in this article. Worker cooperatives and trade unions could ensure wages go up in line with productivity, although specific legislation could also help this, such as tying the minimum wage to the mean average wage.

However, I disagree that CEOs should be made criminally liable for the actions of a company; part of the blame rests with the legislators for allowing the situation to arise in the first place, it is in a sense entrapment to punish them for doing what you said they could do. I think it was probably fairly predictable what would happen once leverage controls etc. were lifted. Also, the concept of a limited liability company protects entrepreneurs; a nationalised banking system that favored sustainable, small businesses in the UK and that was more patient with returns to capital would also help.

I also support the idea of having to prove the societal benefit of financial instruments to a regulator before they can be used – as is the case with medicine.

The greatest problem is that there is no sense of society any more. Welfare promoting policies of the post war era were only really possible because of the sense of togetherness that was there. Any policy that promotes unity is surely invaluable.

]]> By: Caroline Molloy http://www.redpepper.org.uk/economic-democracy-the-next-big-left-idea/#comment-50842 Caroline Molloy Sun, 06 May 2012 20:08:10 +0000 http://www.redpepper.org.uk/?p=7234#comment-50842 Some interesting ideas here but we also need to try and use the existing democratic structures that used to make decisions, better. We need to be alert to the tricks the neoliberals play to privatise decision making. Top, is use of consultants to 'make the difficult decisions' in reports not shared with service users. We should get in the habit of doing FOIs for this (and appealing when we get told 'commercially confidential'. We should also do FOIs to get minutes of increasing number of regular secret meetings taking place. Some interesting ideas here but we also need to try and use the existing democratic structures that used to make decisions, better. We need to be alert to the tricks the neoliberals play to privatise decision making. Top, is use of consultants to ‘make the difficult decisions’ in reports not shared with service users. We should get in the habit of doing FOIs for this (and appealing when we get told ‘commercially confidential’. We should also do FOIs to get minutes of increasing number of regular secret meetings taking place.

]]> By: Peter Tatchell http://www.redpepper.org.uk/economic-democracy-the-next-big-left-idea/#comment-50810 Peter Tatchell Sun, 06 May 2012 15:06:17 +0000 http://www.redpepper.org.uk/?p=7234#comment-50810 I would be interested in hearing other people's ideas on radical, practical policies that can help transform free market capitalism. To have credibility and win public support, Greens and the left must come up with credible, workable alternatives to the Tory, Lib Dem and Labour consensus. More slogans are not good enough; nor are reformist demands for better wages and working conditions. We need to promote policies that will structurally transform economic decision-making: to make it more democratic, accountable, transparent and decentralised. Please post your ideas here. I would be interested in hearing other people’s ideas on radical, practical policies that can help transform free market capitalism.
To have credibility and win public support, Greens and the left must come up with credible, workable alternatives to the Tory, Lib Dem and Labour consensus.
More slogans are not good enough; nor are reformist demands for better wages and working conditions.
We need to promote policies that will structurally transform economic decision-making: to make it more democratic, accountable, transparent and decentralised. Please post your ideas here.

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