People over profit: An economic democracy is an economy that
subordinates profit to people, not the other way around.
Stakeholders over shareholders: An economic democracy is an
economic system in which the voices, rights, and interests of
all economic stakeholders — including employees, stockholders,
communities, ecosystems, other species and future generations —
are represented. Unlike our current economy where shareholders
are given primacy, in an economic democracy no one stakeholder
is granted a disproportionate degree of power and privilege.
Better not bigger: In order to reorient the economy towards
people and all stakeholders, we have to release it from the
captivity of profit. In an economy geared towards GDP growth,
the bottom line is the bottom line, and protecting it means
suppressing wages, slashing payrolls, passing on costs to other
people, other places, and other times. Most importantly, our
economy has outgrown the physical limits of the planet, and
saving civilization means stopping growth.