The International Co-operative Alliance (ICA), defines cooperatives as, “autonomous associations of persons, united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly-owned and democratic controlled enterprise” Worker cooperatives attempt to change the social and economic relations at the level of production by equating ownership and decision-making power among the workers, thereby leveling and sharing profits more equitably. Worker Cooperatives are businesses owned and democratically controlled by the workers, where every worker shares equally in the value created by the businesses and every worker also has only one vote.

Economic Democracy promotes increased public ownership and participation in that ownership, of goods and services that make sense to be owned collectively. These include but are not limited to the Postal Service, Hospitals, Utilities, Education, Public Transportation, Housing etc. Often these are seen as inefficient and are sought to be privatized, but their inefficiency stems from the lack of open book, transparent or democratic management. Economic Democracy advances increased democratic participation in the management of Public Ownership by involving more stake holders.

Economic Democracy in seeking to democratize all forms of ownership includes democratizing land ownership. As communities face gentrification and displacement from their communities, Community Land Trusts allow communities to organize and build collective wealth to cooperative purchase their own housing and land and run it democratically. With Community Land Trusts Land is treated as a common heritage, not as an individual possession. Land is removed permanently from the market, never resold by the nonprofit. (Grounded Solutions Network). This allows communities to take ownership of their homes and communities without being subject displacement. It also centers Housing as a human right rather than a profit center.

Economic Democracy is rooted in empowering communities. At its base, it seeks to allow communities to participate more fully in projects and programs that affect the daily lives of all communities, especially those seen as economic in nature. It seeks to have communities participate in deciding city budgets and allocation of resources, community health and recreation projects and many others. And its seeks to do so in a way that promotes self-determination, collaboration, and solidarity for communities. It seeks to make communities active stakeholders in economic processes that condition their surrounding environments and seeks to support job creation and growth above just making profits.