| Prices | Democratically determined |
| Production | Mixed private and cooperative |
| Regulation | Democratically influenced • Social welfare focused |
| Characteristics | Democratic processes • Collective interest groups • Social welfare focus • Cooperative goods provision |
| Economic agents | Individuals • Businesses • Worker groups • Community organizations |
| Economic system | Market mechanisms |
| Geographic distribution | Global, variant timeline |
In this alternative economic system, known as "market mechanisms," the market is the primary means of allocating resources, but it is heavily guided and controlled by society's collective interest groups and regulations, striving to ensure long-term social welfare, equity and sustainability. The following are key features of this system:
Certain public goods and some private goods and services are provided through a collaborative democratic process, ensuring that they are aligned with wider societal needs and values rather than driven solely by private profit motive. These cooperative arrangements seek to balance the interests of users, workers, and the wider community, and are overseen by democratically elected councils.
A wide range of enterprises are run collectively by various stakeholders, including employees, consumers, producers, and community members, based on a democratic decision-making process. This approach allows for more inclusive and transparent decision making compared to traditional private ownership models.
In mixed-market enterprises, surpluses are returned to the collective, contributing to societal projects, reinvestment, worker wages, community development, and other collective interests. The system limits private profit for the benefit of the collective good.
Most economic sectors are run as mixed markets, subject to robust regulation, democratic control, and societal oversight. Key sectors include energy, housing, health, education, and transportation. In mixed-market sectors, efforts are made to balance efficiency with sustainability, social equity, and democratic decision making.
Regulation, democratic control and societal oversight play a key role in ensuring that market mechanisms meet the collective social interests. Enterprises are required to meet various socially responsible criteria, such as fair labor practices, environmental sustainability, and equitable distribution of resources.
Public investments in infrastructure and industries play a strong role in shaping the economy, with a focus on long-term social welfare and environmental sustainability. Planning takes into account both short-term and long-term needs, considering input from various stakeholders and interest groups.
In this alternative system of market mechanisms, the balance between collective, democratic control and market forces helps to ensure that economic activities reflect the interests of society as a whole, as opposed to the narrow profit-driven goals of private parties often found in conventional market capitalism.
