To speak of economic democracy is to preach democracy for the poor as well as the rich.
Economic democracy is the transfer of economic decision making from the few to the many.
Democratic worker-controlled production would extend democratic choice to work, employment, income, and technology. Corporate wealth and its distribution become the issue, and it is the control of the corporations, not of personal capital, that carries implications for employment, growth, income distribution, and the structure of the economy. When public ownership has actually been adopted, however, it has not proved to be the panacea its proponents have hoped. The public must take political control over the commanding heights of the economy and guide it in a way that benefits working people, rather than a handful of moneybags. By economic justice, it is meant that everyone should meet their proportional responsibility to the national welfare.