Thanks for such a thoughtful Reply.
Yes, this is extending the concept of democracy to the economy. I agree that some democratic political systems and specific forms of government (the functional core of the political system, which is the set of institutions through which the political process--the process of effecting choices for the community as a whole--operates) are better than others: "Democracy: So Much More Than Majority Rule.” This paradigm is such a choice.
I have personally come to favor having a single political party (as I envision such a thing).