An economic professor asked me, "But do you want this government having anything to do with the allocation of capital?"
Well, no. I don't want this government doing anything at all. This government exists as an organ of the capitalist ruling class, and the representatives and bureaucrats live in the context of a capitalist society: they, like everyone else, are competing in a life and death struggle for money and power. There are so many incentives for "corruption" (using official power for personal gain) that it seems a miracle that so many civil servants avoid corruption.
Instead, I want a democratic government in a communist context making decisions about the allocation of capital. A democratic government, as opposed to our present republican government, really is run by the people themselves, directly as far as direct democracy is practical, and otherwise by delegated, as opposed to trustee, representation. In a communist context, people are not locked into a life and death struggle for money, and economic power is not the essence of political power.
People like power, and I have no illusions that there will be struggles for power under democratic communism. I believe, however, that we can move the field of struggle for power away from economic power to something else, probably popularity. A person will become politically powerful to the extent that she gains the admiration, trust, and respect of the people. There will be demagogues, certainly, and the majority of people can, like any other group, make serious mistakes. But the power of a demagogue is much more transient and evanescent than the power of a capitalist, and the fundamental principle of democracy is not that the people are less prone to error than an elite, but rather that the mistakes of the people are preferable to the self-interest of an elite.