Abstract
[Excerpt] In broad outline, market socialism means that the ownership and control of firms are transferred from a small shareholding class to the workers. Every employee would own a share of the enterprise she works for, and workplace decisions would be made democratically. Other aspects of our present system – competition between firms, decentralized decision making with regard to production choices, consumer sovereignty – would remain intact. Coke and Pepsi would still compete with each other, but both companies would be managed cooperatively by their respective workforces. In other words, private ownership of the means of production would persist, but the ownership structure would be diffuse and democratic—an economy of worker co-ops.