View article

Democracy is difficult to define because it is so difficult to understand and apply in practice. Unsuccessful definitions and practice of democracy can have catastrophic results, such as anarchy and idiocy. Democracy therefore needs protective and applicable frameworks, although too much protection runs the risk of making it less democratic. Metron Ariston, a Delphic Maxim, may contribute towards a reasonable definition of democracy and give us possibilities to apply it in practice. Democracy in speech and actions can be demonstrated based on the shared value produced. Shared value in business, in turn, has been defined so that it covers the economic value creation inside a company as well as creating value for society according to its needs and challenges. The target is to achieve economic success through company activities so that all the stakeholders get their own share. In this way, shared value can be …