The people en-masse being in control. Representative democracy, by it's nature, creates a "ruling class", the representatives. Only a direct democracy asks the people what they think of each and every issue, but that is impractical in my opinion.
...and I don't feel that leaders of state owned capital are particularly any different from leaders of privately owned capital. Both are individuals in privileged positions of power that work to maintain themselves above the workers. To me it's not the ownership that matters but the fact you have a ruling class at all.
Hence, what political system is required for a truly equal society?