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:
“No habit or quality is more easily acquired than hypocrisy, nor any thing sooner learned than to deny the sentiments of our hearts and the principle we act from: but the seeds of every passion are innate to us, and nobody comes into the world without them.”
—Bernard Mandeville (1670–1733)