People's Republic of Walmart: How the World's Biggest Corporations are Laying the Foundation for Socialism

Major multinational companies are held up as the ultimate expressions of free-market capitalism, but Leigh Phillips and Michal Rozworski argue that much of the economy of the West is centrally planned and works. The People's Republic of Walmart revives the conversation about how society can extend democratic decision-making to all economic matters, with the advances in information technology and the emergence of globe-straddling collective enterprises making it more important and closer to attainment than ever before.

\n Format: Paperback / softback
\n Length: 256 pages
\n Publication date: 05 March 2019
\n Publisher: Verso Books
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Major multinational companies are often held up as the epitome of free-market capitalism, with their remarkable success seemingly vindicating the old belief that modern society is too complex to be subjected to a plan. However, as Leigh Phillips and Michal Rozworski argue, a significant portion of the Western economy is currently centrally planned. Despite the perception that large-scale planning is not feasible or effective, the reality is that it is both possible and already in operation. The key question now becomes whether planning can be democratic and transformed to work in favor of society.

In The People's Republic of Walmart, authors Leigh Phillips and Michal Rozworski delve into economic theory, computational complexity, and the history of planning to explore this pressing question. They argue that with the advancements in information technology and the rise of global collective enterprises, democratic planning in the interest of all humanity is more achievable than ever before. The book challenges the notion that planning is inherently authoritarian and suggests that it can be designed to empower individuals and promote social well-being.

Phillips and Rozworski argue that democratic planning can be achieved by decentralizing decision-making power and engaging a broader range of stakeholders in the economic process. They highlight the success of community-based planning initiatives, such as the Mondragon Corporation in Spain, which has achieved economic stability, job creation, and social equality through worker ownership and democratic decision-making.

The authors also address the criticisms of central planning, such as the argument that it leads to inefficiency and bureaucratic red tape. They argue that while planning may require expertise and coordination, it can be more efficient and effective than the market-driven approach, particularly in addressing social and environmental challenges.

Furthermore, The People's Republic of Walmart explores the role of technology in democratic planning. The authors argue that information technology can enable greater transparency, accountability, and participation in decision-making processes, allowing individuals to have a greater say in the economic decisions that affect their lives.

The book also raises important ethical considerations about democratic planning. The authors argue that it is essential to ensure that planning decisions are made in the interest of all humanity, rather than just a select few. They suggest that democratic planning should be guided by principles of social justice, sustainability, and equality, and that it should prioritize the well-being of individuals and communities over the pursuit of profit.

In conclusion, The People's Republic of Walmart is a thought-provoking and engaging book that challenges the conventional wisdom about free-market capitalism and central planning. It offers a compelling argument for democratic planning as a means to promote social well-being, economic stability, and equality. By decentralizing decision-making power and engaging a broader range of stakeholders, planning can be transformed to work in favor of society and achieve a more just and sustainable economic system.

\n Weight: 222g\n
Dimension: 130 x 197 x 20 (mm)\n
ISBN-13: 9781786635167\n \n