A proposal for a democratic market economy

A type of market socialism is proposed for the United States both as a means of attaining more social equality than private ownership of corporate business makes politically and economically feasible, and of advancing a whole range of liberal purposes by undermining direct and indirect political power of the conservative business community. It is proposed to transfer ownership of corporate business to a system of local-government investment funds under specified national regulation. Such a system could retain all the economic advantages of capitalism, while facilitating better control of inflation, and would have genuine political feasibility in the United States.