In keeping with the radical openness of his theory of democracy, Habermas avoided pre-determining the ideal mode of economic organization for his favoured model of deliberative democracy. Instead of attempting a full-blown derivation, in this article, I propose adapting the Rawlsian method of comparing different political–economic regimes as candidate applications of his theory of justice to Habermas’s theory of deliberative democracy. Although both theorists are seen as endorsing liberal democratic world views, from the perspective of political economy, the corollary of (...) their conceptions of democracy would arguably veer elsewhere: in Rawls’s case, into the territory of property-owning democracy or democratic socialism, and in Habermas’s, into any political–economic regime which guarantees the real exercise of full political and discursive liberties against the background of legitimate lawmaking. The ultimate aim of this article is to discuss whether a concrete conception of democratic socialism, if any, is compatible with Habermas’s theory of deliberative democracy. (shrink)