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thad w i lliam s on Political constitutions are essential components of political-economic regimes. If one accepts the postulate that society needs to move towards a post-capitalist political-economic system, a key question that immediately follows is whether and in what ways existing political constitutions will need to change. The concept of property-owning democracy has been extensively explored in recent scholarship.1 In a nutshell, property-owning democracy consists of a system combining political democracy with a market economy, but with explicit measures in place to broaden the distribution of capital and property as widely as possible and prevent domination of the economy (and state) by a small elite. Many recent articulations of the idea also call for establishing in effect a right to a meaningful share of property (be it cash, housing, and/or productive capital) for individuals or households. A property-owning democracy is intended to realize effective political equality, fair equality of opportunity, and an economy that lifts the position of the least well off group over time to a much greater degree than do even the best forms of welfare state capitalism. Property-owning democracy shares many of the same features and intellectual sources as the "Pluralist Commonwealth" model articulated
The Good Society – Penn State University Press
Published: Jul 9, 2013
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