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:
“Country people do not behave as if they think life is short; they live on the principle that it is long, and savor variations of the kind best appreciated if most days are the same.”
—Edward Hoagland (b. 1932)