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:
“From the age of fifteen, dogma has been the fundamental principle of my religion: I know no other religion; I cannot enter into the idea of any other sort of religion; religion, as a mere sentiment, is to me a dream and a mockery.”
—Cardinal John Henry Newman (1801–1890)