Decision-making Principle
One of the primary propositions of parecon is that all persons should have a say in decisions proportionate to the degree to which they are affected by them. This decision-making principle is often referred to as self-management. In parecon, it constitutes a replacement for the mainstream economic conception of economic freedom, which Albert and Hahnel argue that by its very vagueness has allowed it to be abused by capitalist ideologues.
Read more about this topic: Participatory Economics
Famous quotes containing the word principle:
“Thus it seemed that this one hillside illustrated the principle of all the operations of Nature. The Maker of this earth but patented a leaf. What Champollion will decipher this hieroglyphic for us, that we may turn over a new leaf at last?”
—Henry David Thoreau (1817–1862)