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
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“Circumstances ... give in reality to every political principle its distinguishing colour and discriminating effect. The circumstances are what render every civil and political scheme beneficial or noxious to mankind.”
—Edmund Burke (1729–1797)