Participatory Economics and Inclusive Democracy
"Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone."
— John Maynard KeynesParticipatory economics, often abbreviated as Parecon, is a proposed economic system that uses participatory decision making as an economic mechanism to guide the production, consumption and allocation of resources in a given society. Proposed as an alternative to contemporary capitalist market economies and also an alternative to centrally planned socialism, it is described as "an anarchistic economic vision", although it could be considered a form of socialism as under Parecon, the means of production are owned by the working class. It emerged from the work of activist and political theorist Michael Albert and that of radical economist Robin Hahnel, beginning in the 1980s and 1990s.
Inclusive Democracy as envisaged by Takis Fotopoulos, is a form of direct democracy. It is a political theory and political project that aims for direct democracy in all fields of social life: political democracy in the form of face-to-face assemblies which are confederated, economic democracy in a stateless, moneyless and marketless economy, democracy in the social realm, i.e., self-management in places of work and education, and ecological democracy which aims to reintegrate society and nature. Here, all decisions are taken by the Demos, and basic economic needs could be met for all based upon a certain amount of work. Additional non-necessary items could be earned by contributing above the minimum required to meet society's basic needs. This approach is markedly anti-capitalist as well as anti-market, including an absence of ability to accumulate wealth, where each person earns for himself only, thereby avoiding the imbalance of power inherent in a capitalist system.
Read more about this topic: Anti-capitalism
Famous quotes containing the words economics, inclusive and/or democracy:
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