Democracy doesn’t have to be a tyranny of the majority. In its purest form it is. And that is why constitutional republics ensure citizen’s rights in their constitutions. We need a similar system for economy.

A sketch of that would a be a system where you’d have constitutional republic with independent legislature, judiciary and executive branches. Separated from the economic players as well as possible. They would provide the the outer bounds of a level playing field. Economy would a market economy, where ownership of companies would be distributed among the stakeholders of the system workers, customers and the executive. Similar to how governments ideally function. Workers would have “legislative” power in the company. They would be responsible for company policy. Executives would implement those policies. Customers would decide how well the company performs by either buying their products or withholding their patronage. This would need a lot of guard rails in place. But this would prevent centralization of power in the hands of an “owner”-class.

Transitioning to this type of system would not be that difficult. As most of what it has is already there. In western democracies. At least on paper. There would be a lot of resistance to this from the “owner”-class. I have no doubt of that.