Participatory Economics (parecon for short) is "a type of economy proposed as an alternative to contemporary capitalism.
"The underlying values parecon seeks to implement are equity, solidarity, diversity, and participatory self management.
"The main institutions to attain these ends are workers and consumers councils utilizing self management decision making methods, balanced job complexes, remuneration according to effort and sacrifice, and participatory planning." ParEcon.org
- George Monbiot and Michael Albert, Movement Building 2004: What Do We Want? An Exchange Between Michael Albert and George Monbiot. On the Occurrence of the Publication of their new books: Albert: "Parecon: Life After Capitalism" and Monbiot: "The Age of Consent: A Manifesto for a New World Order".