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Developmental Linkage of Economic Democracy Index

  • Unique Paper ID: 153417
  • Volume: 8
  • Issue: 7
  • PageNo: 183-187
  • Abstract:
  • The economic democracy index, as a phenomena recently developed, includes certain parameters which support the development process and in this way the EDI can be an important measure to give direction to the democracy of any system towards development and progress. EDI may prove even an improvement on ongoing democracy. Search parameters are: employment rights, employee participation, distribution of economic decision-making powers, transparency. The paper highlights a new dimension to economic democracy: Creativity vs Conformity. Creativity and conformance both have their impact on productivity. It is the productivity which provides ultimately creativity and conformance any meaning and worth. But conformance ensures current productivity whereas creativity improves the chances of long-term survival, growth & transformation and enhances future productivity. Political democracy starts from political leaders & parties and tries to go to the masses with trickle-down approach which does not always percolate down effectively. But economic democracy starts from people and popular initiatives and goes to the societal and systemic levels. The EDI measures as developed further for micro as well as macro levels may be used as significant indicators for progress of economic democracy.
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  • ISSN: 2349-6002
  • Volume: 8
  • Issue: 7
  • PageNo: 183-187

Developmental Linkage of Economic Democracy Index

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