The idea of economic democracy in Czechoslovakia in the 1960s: Its proponents,predecessors,and critique

This article explores the concept of economic democracy, particularly as developed by Czech economists in Czechoslovakia during the 1960s. During the Prague Spring, it emerged as a viable and promising economic concept within a brief timeframe, though it did not draw significant inspiration from similar concepts that had arisen in the region since at least the 1920s. The article introduces both these early ideas and the key proponents of the concept from the 1960s onward, including Ota Šik, Čestmír Kožušník, and others, along with their theoretical proposals scattered throughout their writings. Additionally, the article describes the harsh criticism directed at the concept of workplace participation during the ‘normalization’ era in Czechoslovakia. A similar concept of participatory economy, presented by Jaroslav Vanek in the USA independently of Czechoslovak economists, is also briefly introduced.