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:
“A certain secret jealousy of the British Minister is always lurking in the breast of every American Senator, if he is truly democratic; for democracy, rightly understood, is the government of the people, by the people, for the benefit of Senators, and there is always a danger that the British Minister may not understand this political principle as he should.”
—Henry Brooks Adams (1838–1918)