Abstract

What should a free economic system look like? Socialists have long held that a universal human emancipation requires replacing capitalism with socialism. However, it has recently been argued that Property‐Owning Democracy (POD) safeguards freedom while allowing us to keep key features of capitalism. I challenge that claim by showing that the institutional features that make capitalist workplaces unfree are shared with POD. As a result, POD is insufficient for a free economic system. After discussing a number of objections, I conclude that we should look to more democratic alternatives instead.