Since first published in 2002, this book has offered students and political activists alike a vision of a viable and desirable alternative to capitalism. The author calls this system Economic Democracy, a successor-system to capitalism which preserves the efficiency strengths of a market economy while extending democracy to the workplace and to the structures of investment finance. In the second edition, he recognizes that increased globalization of companies has created greater than ever interdependent economies and the debate about the desirability of entrepreneurship is escalating. The new edition includes a new preface, completely updated data, reorganized chapters, and new sections on the economic instability of capitalism, the current economic crisis, and China. Drawing on both theoretical and empirical research, the author shows how and why this model is efficient, dynamic, and applicable in the world today.