A Property Owning Democracy or a Liberal (Democratic) Socialism?

Abstract

This paper deals with the characteristic features of Rawls’ property-owning democracy, and whether a liberal democratic socialism can be compatible with Rawls’ political liberalism. I argue that a property-owning democracy can be compatible with Rawlsian justice while liberal socialism cannot. I understand the choice between property-owning democracy and liberal socialism as the problem of which kind of regime is more compatible with the pluralism of modern democracies. Property-owning democracy is more compatible with Rawls’ political liberalism since it permits a wider variety of the conceptions of the good than liberal socialism while at the same time permitting worker-managed firms; thus I argue that it can be understood as a "mixed" regime.