Contents
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Introduction Introduction
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Reluctant return of public ownership: its aftermath in the capitalist heartland Reluctant return of public ownership: its aftermath in the capitalist heartland
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Seeds of an alternative: emergent forms of democratic public ownership Seeds of an alternative: emergent forms of democratic public ownership
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Confronting Hayekian thinking and its limits Confronting Hayekian thinking and its limits
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Principles for constructing democratic public ownership Principles for constructing democratic public ownership
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Constructing economic democracy: learning from actually existing alternatives Constructing economic democracy: learning from actually existing alternatives
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Conclusion Conclusion
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References References
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Eleven Rethinking public ownership as economic democracy
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Published:February 2017
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Abstract
Despite the spectacular failure of market fundamentalism in Europe and the US, with a seemingly never-ending spate of corporate scandals and financial crises, the grip of a neoliberal economic policy discourse among political and economic elites seems unshakeable. If anything, neoliberal policies of privatisation, labour market deregulation and state and welfare retrenchment seem to have been ratcheted up since the 2008-9 financial crisis. How can a left and more progressive politics– even in the form of a moderate eco-Keynesianism – be reasserted in these circumstances? This chapter argues that there has, until recently, been a serious vacuum in left and progressive circles about alternative economic models that might challenge the mainstream consensus. Cumbers uses the lens of public ownership, and examples from recent research in Denmark and Germany, to argue for the need to remake and re-scale institutional structures and practices on the left to successfully contest neoliberalism and construct more progressive, egalitarian and sustainable economies and societies.
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