Finally, I was influenced by Dubceck's model of social democracy. It could have been more successful than the Yugoslavian experiment, but for the Soviet tanks. I have had several interests in my life, including the area I call economic democracy. Economic democracy is a transposition of the idea of political democracy. It implies that economic life is governed by people who are involved in thateconomic life.
Capitalism is based on property rights, and democracy on personal rights.
Perhaps the most important aspect of capitalism, its objective function, is to maximise profit. If you look at it more carefully, profit is revenue minus labor costs and other costs. This means then human beings enter the defining objective function of the system with a negative sign. By contrast, economic democracy has an objective function where people are on the positive side of the equation. The idea is to maximise the welfare of the people participating.