Participatory economics, or parecon, proposes a new economic model that eliminates the binary of capitalism and socialism. It suggests restructuring workplaces, eliminating senior management, and paying based on effort and sacrifice. Prices would be set by community councils, and trade credits would replace money. Critics cite bureaucracy and inconsistencies, but the theory opens up new […]
Participatory budgeting involves employees in creating a budget for a department or company, increasing morale and productivity. Employees assess needs and allocate funds, identifying strategies to save money and improve efficiency. Final budget approval still rests with company officials, but employee input provides creative suggestions and increases loyalty. Participatory budgeting is a type of financial […]
