Economic Democracy Explained: Deconcentrating Corporate Power

Apr 06, 2023
  • Description

Our economy is increasingly defined by deep and rising inequality that exists across race, income, power, and wealth. Over the last few decades, corporations have lobbied to weaken laws and policies governing antitrust, environmental protections, worker rights and protections, and more—all to further consolidate their own power. The effect of this consolidation has been particularly acute for Black and brown communities who, as a result, face deep and persistent economic insecurity and inequality. Rising corporate consolidation has helped channel power further away from these communities and into the hands of a wealthy few. Addressing this imbalance requires more than policy changes. Power must shift away from corporations and back to the people—particularly Black and brown communities.

According to the Center for Economic Democracy, an economic democracy brings more people to the decision-making table to "collectively decide how to use land, labor, and capital to serve the public good." This brief outlines the consequences of corporate actors consolidating their power to act against the public good, and how Black and brown communities can collectively envision and advance a just, inclusive economy.