From Dissent, an exploration of alternative economies:
In After Capitalism, David Schweickart looks at both the theoretical and practical implications of these developments. Schweickart, like Alperovitz, is from the Midwest—he actually hails from Cleveland, the site of so many of the latter’s examples. Schweickart shares Alperovitz’s knack for speaking simply and passionately about complex matters of political economy. (A panel discussion between the two that took place at the 2011 conference of the International Confederation of Associations for Pluralism in Economics, available online here, beautifully displays this mutual sensibility.) Schweickart has also devoted a good portion of his adult life to constructing and revising a comprehensive alternative to corporate capitalism, one that is as theoretically rigorous as it is practically apt. What makes him unusual is that he’s not reluctant to put forth a blueprint, even as he acknowledges its limits and pitfalls. Schweickart shows how the enterprises championed by Alperovitz could lead to a political program.
His reform program calls for:
(1) public support of worker co-ops and buyouts of capitalist businesses;
(2) legislation prodding traditional firms in the direction of profit sharing and workplace democracy;
(3) legislation affording the right of workers to purchase their companies;
(4) legislation requiring that bailed-out corporations be nationalized and revamped as worker-owned companies;
(5) “democratization and reregulation” of the banks;
(6) the establishment of public banks;
(7) the replacement of the corporate income tax with a capital assets tax;
(8) “reregulation of transnational capital flows,” taking the “Tobin tax” as a start;
(9) the reintroduction of government as employer-of-last-resort legislation (ELR);
10) tariff-based trade “when there are significant wage and environmental regulation disparities between the trading countries”;
(11) giving these tariff revenues to “worker-friendly” private and public institutions in poor nations;
(12) the replacement of the income tax with a “wealth tax”;
(13) campaign finance reform similar to the “publicly funded credit cards” and anonymous donations recommended by Yale Law School professors Bruce Ackerman and Ian Ayres.
Read much more here.