ELI5: Explain Like I'm 5

Economic democracy

Economic democracy is when people have a say in how money and resources are shared, used, and managed in their community. It means people have a say in what businesses and organizations can do and how they can use money. It's like a democracy, but instead of talking about governments and politics, people are talking about money and resources. So, in economic democracy, everyone, no matter how much or how little money or resources they have, has a say in how money and resources get used and shared in their community.