Democratic ownership of economy, industries, and capital
My first law review article proposed a policy to erode dynastic fortunes and encourage dramatic economic redistribution even within the context of a market economy. Within the process of the evolution from our failed era of crony capitalism into the brighter future we are building together in the shell of the crumbling old, its represents a vital middle step between where we are and where we want to get.
I especially favor nationalizing defense industries and all private prisons, motivated by Eisenhower’s warning about the profound danger of allowing profit to skew public decision making around security issues.
Nationalizing fossil fuel extraction should come next, given the tragedy of the commons and negative impacts of profit-seeking in an era of declining supply. Fracking and shale gas extraction is a perfect example: it’s a profitable enterprise with immense public harms that only a public entity can properly internalize since the harms (eg earthquakes in Oklahoma) aren’t born by those who stand to profit.
Workers at large corporations should have representation on the boards of directors, so that workers’ concerns and rights are considered front-and-center.