"Every society chooses – consciously or not, democratically or not –
among alternative ways to organize the production and distribution of
the goods and services that make individual and social life possible.
Modern societies have mostly chosen a capitalist organization of
production. In capitalism, private owners establish enterprises and
select their directors who decide what, how and where to produce and
what to do with the net revenues from selling the output. This small
handful of people makes all those economic decisions for the majority of
people – who do most of the actual productive work. The majority must
accept and live with the results of all the directorial decisions made
by the major shareholders and the boards of directors they select. This
latter also select their own replacements."
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