ABSTRACT
Defenders of capitalism play on the fact by claiming that humans can only be reliably motivated by greed and fear, that most people are incapable of making good economic decisions and must be told what to do by others who are wiser, and therefore, it is necessary placing most under the command of a few and forcing the greedy and fearful to compete against one another in markets will yield reasonably desirable outcomes. This chapter begins the process of spelling out a feasible alternative to capitalism in which workers manage themselves instead of working for an employer, and worker and consumer councils and federations plan their own interrelated activities themselves without submitting to the dictates of either central planners or markets. The chapter also explains how “participatory economy” can work efficiently and fairly, why it can motivate people to work hard and enterprises to innovate, and why it can protect the natural environment better than any economic system before it.
