Participatory economics 参与型经济
Participatory economics, often abbreviated parecon, is an economic system based on participatory decision making as the primary economic mechanism for allocating the factors of production and guidance of production in a society. Participatory decision-making involves the participation of all persons in deciding issues in proportion to the impact such decisions have on their lives. Participatory economics is a form of decentralized economic planning and socialism involving the common ownership of the means of production. It is a proposed alternative to contemporary capitalism and central planning. This economic model is primarily associated with the proposals of political theorist Michael Albert and economist Robin Hahnel, who describe participatory economics as an anarchist economic vision.