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Why isn’t the participatory economy model more popular?

By Mitchell Szczepanczyk

“[W]hen we wonder what to put in [place of capitalism], we are extremely perplexed”,

so said the noted economist John Maynard Keynes. The British economist Alec Nove put it in even more stark terms, writing that you have either markets or central planning,

“there is no third way.”

And yet, this year (2021) marks the 30th anniversary of the publication of two books (“Looking Forward” and “The Political Economy of Participatory Economics“) marking the effective debut of the economy model now known as a participatory economy (PE) — a proposed economy with neither markets nor command planning....

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