According to Smith exclusive title to natural resources and technologies should be converted to inclusive conditional titles—the condition being that society Economic democracy (sometimes called a democratic economy) is a socioeconomic philosophy that proposes to shift ownership and decision-making power from corporate shareholders and corporate managers (such as a board of directors) to a larger group of public stakeholders that includes workers, consumers, suppliers, communities and the broader public. No single definition or approach encompasses eco Emperors and conquistadors were interested mostly in plunder and tribute, gold and glory. Capitalist imperialism differs from these earlier forms in the way it systematically accumulates capital through the organized exploitation of labor and the penetration of overseas markets. Capitalist imperialism invests in other countries, transforming and dominating their economies, cultures, and political life, integrating their financial and productive structures into an international system of capital accumulation. In his book, The Political Struggle for the 21st century, J.W. Smith examines the economic basis for the history of imperial civilization. On a global scale, he says developed nations tended to impede or prohibit the economic and technological advancement of weaker developing countries through the military force, martial law, and inequitable practices of trade that typically characterize colonialism. Rhetorically termed as "survival of the fittest", or "might makes right", such economic crises stem from the imbalances imposed by corporate imperialism. Just as cities in the Middle Ages monopolized the means of production by conquering and controlling the sources of raw materials and countryside markets, Smith claims that contemporary centers of capital now control our present world through private monopoly of public resources sometimes known as "the commons". Through inequalities of trade, developing countries ar The laws and customs that govern the relationships among these entities constitute the economic structure of a given society. Alternately, David Schweickart asserts in his book, After Capitalism: "The structure of a capitalist society consists of three basic components: "The bulk of the means of production are privately owned, either directly by individuals or by corporations that are themselves owned by private individuals. "Products are exchanged in a market -- that is to say, goods and services are bought and sold at prices determined for the most part by competition and not by some governmental pricing authority. Just as cities in the Middle Ages monopolized the means of production by conquering and controlling the sources of raw materials and countryside markets, Smith claims that contemporary centers of capital now control our present world through private monopoly of public resources sometimes known as "the commons". King maintained: The problem indicates that our emphasis must be two-fold. We must create full employment or we must create incomes. People must be made consumers by one method or the other. Once they are placed in this position, we need to be concerned that the potential of the individual is not wasted. New forms of work that enhance the social good will have to be devised for those for whom traditional jobs are not available. Banks are public, not private, institutions that make grants, not loans, to business enterprises. According to Schweickart, these grants do not represent "free money", since an investment grant counts as an addition to the capital assets of the enterprise, upon which the capital-asset tax must be paid. Thus the capital assets tax functions as an interest rate. A bank grant is essentially a loan requiring interest payments but no repayment of principal. While these measures have never been implemented in their purest form, they have provided a foundation for Social Credit political parties in many countries and for reform agendas that retain the title, "economic democracy". ==== National dividend ==== In his book, Capitalism 3.0, Peter Barnes likens a "National Smith divided "primary (feudal) monopoly" into four general categories: banking; land; technology and communications. He listed three general categories of "secondary (modern) monopoly"; insurance, law, health care. Smith further claimed that converting these exclusive entitlements to inclusive human rights would minimize battles for market share, thereby eliminating most offices and staff needed to maintain monopoly structures, and stop the wars generated to protect them. Dissolving roughly half the economic activity of a monopoly system would reduce the costs of common resources by roughly half, and significantly minimize the most influential factors of poverty. In Smith's view, most taxes should be eliminated, and productive enterprise should be privately owned and managed. Inventors should be paid well and all technology placed in the public domain. Crucial services currently monopolized through licensing should be legislated as human rights. Smith envisioned a balanced economy under a socially owned banking commons within an inclusive society with full and equal rights for all. Federated regions collect resource rents on land and technology to a social fund to operate governments and care for social needs. Socially owned banks provide finance capital by creating debt-free money for social infrastructure and industry. Worker cooperatives generally employ an industrial model called workplace democracy, which rejects the "master-servant relationship" implicit in the traditional employment contract. According to Wilkinson and Pickett, neither ownership or participation alone are sufficient to establish democracy in the workplace. "[M]any share-ownership schemes amount to little more than incentive schemes, intended to make employees more compliant with management and sometimes to provide a nest-egg for retirement...