Participatory Economics

Participatory Economics (Parecon for short) is a type of economy proposed as an alternative to contemporary capitalism. The underlying values are equity, solidarity, diversity, and participatory self management. The main institutions are workers and consumers councils utilizing self managed decision making, balanced job complexes, remuneration according to effort and sacrifice, and participatory planning.

Participatory economics– or Parecon – is a framework for post-capitalist economics propopsed by Michael Albert and radical economist Robin Hahnel, among others, and involving workers’ and consumers’ councils utilizing self-managerial methods for making decisions, balanced job complexesremuneration according to effort and sacrifice, and participatory planning.

Sources
  • Albert, Michael (2003) Parecon: Life After Capitalism
  • Le Guin, Ursula (1975) The Dispossessed: An Ambiguous Utopia
  • Parecon at Z-net
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