books

A Democratically Run Economy Can Replace the Oligarchy

Ron Reosti Harper Collins
Portside is proud to bring our readers a full chapter from the book Imagine: Living in a Socialist USA. Periodically Portside will be sharing with our readers chapters and excerpts from books we feel are noteworthy. What better way to launch, than a book about socialism-in the USA. Ron Reosti's chapter - A Democratically Run Economy Can Replace the Oligarchy - argues we can democratically design and control an economy that satisfies the needs and desires of the people.

The Fall of the Berlin Wall and the Failures of Actually Existing Economic Systems

Richard D Wolff, Truthout News Analysis Truthout
One lesson to draw from the GDR's history is that if socialist societies are to be run by, of and for the people, then the people have to be in charge and that includes within the economy. Democracies (both capitalist and socialist) will remain merely formal when the economy continues to be run by small self-selecting minorities. Those minorities will dominate until they are overthrown.
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