Economic democracy is a concept that advocates for the equitable distribution of economic power and resources among all members of society. It emphasizes the importance of participation in economic decision-making, ensuring that individuals have a say in how resources are allocated and how businesses operate. This approach seeks to reduce income inequality and promote social justice. In an economic democracy, institutions such as cooperatives and worker-owned businesses play a crucial role. These entities allow individuals to have a stake in their workplaces and share in the profits, fostering a sense of community and collaboration. Ultimately, economic democracy aims to create a more inclusive and sustainable economy.