[js8]

No, the word socialism is correct, it describes pretty much what you call "distributed ownership", although a condition should be it's also democratic. I don't see why to avoid a well-defined term because of a connotation, that's a receiver's and not a sender's problem.

Regarding democracy, this kind of voting (although it's unequal) already exists with publicly traded companies. Interestingly, nobody is worried where billionaires will find the time or interest to vote in many companies they own; it's always the common people being the problem.