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A Participatory Economy
As of June 2021, 54% of Gen Z adults view capitalism negatively and over 41% have a positive view on socialism. A Participatory Economy is written for people who desire an equitable, ecological economy, but want to know what an alternative to capitalism could look like.
A Participatory Economy presents a fascinating, new alternative to capitalism. It proposes and defends concrete answers to how all society's economic decisions can be made without resort to unaccountable and inhumane markets (capitalism) or central planning authorities (communism). It explains the viability of early socialism's vision of an economy in which the workers come together to decide among themselves what to produce and consume. At the same time, Hahnel proposes new features to this economic model including proposing how “reproductive labor” might be socially organized, how to plan investment and long-term development to maximize popular participation and efficiency, and finally, how a participatory economy might engage in international trade and investment without violating its fundamental principles in a world where economic development among nations has been historically unfair and unequal.
A Participatory Economy presents a fascinating, new alternative to capitalism. It proposes and defends concrete answers to how all society's economic decisions can be made without resort to unaccountable and inhumane markets (capitalism) or central planning authorities (communism). It explains the viability of early socialism's vision of an economy in which the workers come together to decide among themselves what to produce and consume. At the same time, Hahnel proposes new features to this economic model including proposing how “reproductive labor” might be socially organized, how to plan investment and long-term development to maximize popular participation and efficiency, and finally, how a participatory economy might engage in international trade and investment without violating its fundamental principles in a world where economic development among nations has been historically unfair and unequal.
304 pages, Paperback
Published October 4, 2022
5 people are currently reading
1445 people want to read
About the author
Robin Hahnel
35 books50 followersRobin Eric Hahnel (born March 25, 1946) is Professor of Economics at Portland State University. He was a professor at American University for many years and traveled extensively advising on economic matters all over the world. He is best known for his work on participatory economics with Z Magazine editor Michael Albert.
Hahnel is a radical economist and political activist. Politically he considers himself a product of the New Left and is sympathetic to libertarian socialism. He has been active in many social movements and organizations for forty years, notably as a participant in student movements opposed to the American invasion of South Vietnam, more recently with the Southern Maryland Greens, a local chapter of the Maryland Green Party, and the Green Party of the United States. Hahnel's work in economic theory and analysis is informed by the work of Marx, Keynes, Piero Sraffa, Michał Kalecki, and Joan Robinson, among others. He has served as a visiting professor or economist in Cuba, Peru, and England.
Hahnel is a radical economist and political activist. Politically he considers himself a product of the New Left and is sympathetic to libertarian socialism. He has been active in many social movements and organizations for forty years, notably as a participant in student movements opposed to the American invasion of South Vietnam, more recently with the Southern Maryland Greens, a local chapter of the Maryland Green Party, and the Green Party of the United States. Hahnel's work in economic theory and analysis is informed by the work of Marx, Keynes, Piero Sraffa, Michał Kalecki, and Joan Robinson, among others. He has served as a visiting professor or economist in Cuba, Peru, and England.
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Displaying 1 - 9 of 9 reviews
December 2, 2023
Very detailed, thoughtful, and useful plans for how an after capitalism economy could work. While one might have some different views on some points, it is immensely helpful to have a whole system laid out that is thoroughly thought through. A valuable work!
August 22, 2022
Economist Robin Hahnel's A Participatory Economy is a practical and efficiently organized book which offers a vision of what large scale and even global economies could look like outside of capitalism. Hahnel also takes time to address authoritarian communist and related regimes and their failings while offering an alternative that allows for worker and consumer autonomy that is lacking in both systems.
Texts like these can be dry, especially if you're not super into reading about economics. Yet, solutions and philosophical exercises in anti-authoritarian- or less authoritarian depending on how you interpret things- societies are critical in terms of having practical solutions to massive and complex problems. This is especially important when addressing the in between times, which Hahnel does well to bring up and address. Even in more practical guides, there is often discussion of what the "after" will be like when the "before" is overcome- if only it were as simple as hopping directly from one to another.
Hahnel also addresses specific criticisms from anarchists and other leftists as well as philosophers and economists across the political spectrum. Even if one doesn't agree with everything he says or puts forward, he offers a way of thinking differently about things rather than just saying others are wrong in big sweeping generalizations. He is able to convey his understanding of their arguments while also expressing why he disagrees.
Throughout the text, Hahnel also specifically addresses issues often left out of economics. In particular, addressing climate change and how to account for not only the human and worker costs of pollutants and emissions, but also the planetary costs stands out. His section on reproductive labor is also important, though it felt a bit more general than the other sections- perhaps because he wanted to make sure he was leaving space for those currently left responsible for most reproductive labor to take the mic.
I do wish these kinds of books talked about disability more. He does mention that disabled people that could not work would be supported, but disability is such a massive and diverse group that quantifying needs and abilities of each person can be extremely complicated. In a sort of meritocracy based system like this, there always a risk those who no longer can work at a young age, who have not worked much in their life, or who can never work at all to be treated solely as a burden. How do we make sure shit gets done while also valuing people who may not be able to do most or any of it? He does mention ways of making work more accessible, but I would like to read a more expanded take on how disability would fit into things and how to quantify that fairly if the focus is on the autonomy of workers and consumers. I also think he could have gone a bit harder on how much less we would need to consume to have a just and environmentally safer society. He discusses reductions in consumption, but also seems to have the goal of making sure a participatory economy allows for higher consumption than may be necessary (for survival but also enjoyment.) Hopefully, though, a participatory economy or something similar would result in neither the extreme of hyper consumption and overproduction of capitalism nor the constant desire for anything outside of what authoritarian communism provides.
I don't have the solutions, mind you. It just made me think a lot, which is what this book is supposed to do. This seems like the kind of book that any leftist should read and any non-leftist willing to open their mind even a little should definitely read. With Hahnel's willingness to seriously consider arguments and data in all directions, it creates a great place for one to discover what they believe.
This was also posted to my blog.
Texts like these can be dry, especially if you're not super into reading about economics. Yet, solutions and philosophical exercises in anti-authoritarian- or less authoritarian depending on how you interpret things- societies are critical in terms of having practical solutions to massive and complex problems. This is especially important when addressing the in between times, which Hahnel does well to bring up and address. Even in more practical guides, there is often discussion of what the "after" will be like when the "before" is overcome- if only it were as simple as hopping directly from one to another.
Hahnel also addresses specific criticisms from anarchists and other leftists as well as philosophers and economists across the political spectrum. Even if one doesn't agree with everything he says or puts forward, he offers a way of thinking differently about things rather than just saying others are wrong in big sweeping generalizations. He is able to convey his understanding of their arguments while also expressing why he disagrees.
Throughout the text, Hahnel also specifically addresses issues often left out of economics. In particular, addressing climate change and how to account for not only the human and worker costs of pollutants and emissions, but also the planetary costs stands out. His section on reproductive labor is also important, though it felt a bit more general than the other sections- perhaps because he wanted to make sure he was leaving space for those currently left responsible for most reproductive labor to take the mic.
I do wish these kinds of books talked about disability more. He does mention that disabled people that could not work would be supported, but disability is such a massive and diverse group that quantifying needs and abilities of each person can be extremely complicated. In a sort of meritocracy based system like this, there always a risk those who no longer can work at a young age, who have not worked much in their life, or who can never work at all to be treated solely as a burden. How do we make sure shit gets done while also valuing people who may not be able to do most or any of it? He does mention ways of making work more accessible, but I would like to read a more expanded take on how disability would fit into things and how to quantify that fairly if the focus is on the autonomy of workers and consumers. I also think he could have gone a bit harder on how much less we would need to consume to have a just and environmentally safer society. He discusses reductions in consumption, but also seems to have the goal of making sure a participatory economy allows for higher consumption than may be necessary (for survival but also enjoyment.) Hopefully, though, a participatory economy or something similar would result in neither the extreme of hyper consumption and overproduction of capitalism nor the constant desire for anything outside of what authoritarian communism provides.
I don't have the solutions, mind you. It just made me think a lot, which is what this book is supposed to do. This seems like the kind of book that any leftist should read and any non-leftist willing to open their mind even a little should definitely read. With Hahnel's willingness to seriously consider arguments and data in all directions, it creates a great place for one to discover what they believe.
This was also posted to my blog.
March 7, 2023
The only reason I'm giving this book 5 stars is because a bunch of trolls came onto this page and gave it 1 star. If not for trolls, I'd probably give it three or four.
Economics are purposefully overcomplicated, which is one of the reasons why a few people make decisions for everyone. Even though the goal of this book is to present a way in which everyone has a say in how their lives are run, it's super complicated. I consider myself smarter than average and I didn't follow most of it and had to fight to stay awake for a lot of it. The complicated formulas that determine how much a workplace can produce or how much a family can consume will only be understand by a small amount of people. So, maybe the type of people make the decisions will change but I don't think the amount really will.
I have other issues with the plan, but in the end it doesn't matter. Call me a nihilist, but there are too many idiotic, hateful goons out there for this to even become a reality on a large scale.
Economics are purposefully overcomplicated, which is one of the reasons why a few people make decisions for everyone. Even though the goal of this book is to present a way in which everyone has a say in how their lives are run, it's super complicated. I consider myself smarter than average and I didn't follow most of it and had to fight to stay awake for a lot of it. The complicated formulas that determine how much a workplace can produce or how much a family can consume will only be understand by a small amount of people. So, maybe the type of people make the decisions will change but I don't think the amount really will.
I have other issues with the plan, but in the end it doesn't matter. Call me a nihilist, but there are too many idiotic, hateful goons out there for this to even become a reality on a large scale.
May 31, 2024
This author falls prey to the mistake of many economists: the assumption of rationality. Hahnel repeatedly uses the phrase “but they would have no reason to x” to brush aside potential criticisms. This response represents a failure in the theory. Humans are not rational actors, and rationality is a root of European epistemology. Plenty of people do and believe irrational things, and even then, there are many factors that go into making decisions, particularly to support those close to oneself, that Hahnel ignores.
Furthermore, this economic model does not incorporate the notion that climate change is inherently tied to industrialization. Even if one followed Hahnel’s model, climate change would slow, not stop or reverse. So while it is better than the present, it is ultimately the lesser of two evils, or a stepping stone to something better.
Furthermore, this economic model does not incorporate the notion that climate change is inherently tied to industrialization. Even if one followed Hahnel’s model, climate change would slow, not stop or reverse. So while it is better than the present, it is ultimately the lesser of two evils, or a stepping stone to something better.
June 8, 2024
an essential method and laudable execution. worthy reading for anyone interested in well-thought-out alternatives to capitalism—it really is a level of detail that should hopefully shut up the mark fishers of the world.
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October 3, 2022"The workers come together to decide among themselves what to consume"
In other words I can't buy what I want.
Sorry, I'm out.
Just fast forward to the part about the "re-education" camps.
In other words I can't buy what I want.
Sorry, I'm out.
Just fast forward to the part about the "re-education" camps.
This entire review has been hidden because of spoilers.
October 4, 2022
Not my genre ok read
October 29, 2022
An important contribution to the post-capitalism discussion.
July 3, 2024
Great ideas but the presentation could have been better. They recently made a short animated video that breaks it down in simpler terms: https://youtu.be/cj_sL9bK6IE?si=-f2n4...
Displaying 1 - 9 of 9 reviews