Building a Democratic Economy: How Do We Create Prosperity for All?

While our economy continues to grow, our country’s prosperity is not broadly shared. Although unemployment is low, too many working people still struggle to make ends meet or build enough wealth to provide for a stable life for themselves and their families. How do we create a new economic system that builds prosperity for all, helping to ensure that everyone shares in the wealth that our economy generates? A new book, The Making of a Democratic Economy by Marjorie Kelly and Ted Howard of The Democracy Collaborative, explores this question by looking at organizations and individuals across the country working to reshape our economy to make it more equitable and to restore power to individuals. From worker cooperatives to socially conscious investing, these leaders are creating different approaches to capitalism that can serve as models for others. The book outlines a set of principles for this new economy that can help guide efforts to address the challenges that many people still face. We host a discussion with the book’s authors and some of the leaders they describe, whose policies, programs, and business models highlight opportunities to make our economy more equitable. The event explores these new approaches to capitalism and identified practical lessons for others looking to build a more just economic system. This event features Karla Bruce (Chief Equity Officer, Fairfax County Government), Marjorie Kelly (Executive Vice President & Senior Fellow, The Democracy Collaborative), Harold B. Pettigrew, Jr. (Executive Director, Wacif), and moderator Joyce Klein (Director, Business Ownership Initiative, The Aspen Institute). This event is part of the Opportunity in America series, an ongoing discussion series hosted by the Aspen Institute Economic Opportunities Program. We are grateful to the Ford Foundation, Prudential Financial, and Walmart.org for their support of this series. For more information, visit as.pn/opportunityinamerica. The Economic Opportunities Program advances strategies, policies, and ideas to help low- and moderate-income people thrive in a changing economy. We recognize that race, gender, and place intersect with and intensify the challenge of economic inequality and we address these dynamics by advancing an inclusive vision of economic justice. For over 25 years, EOP has focused on expanding individuals’ opportunities to connect to quality work, start businesses, and build economic stability that provides the freedom to pursue opportunity. Learn more at as.pn/eop.