ABSTRACT
This chapter provides a conclusion for Part 5 of this book. The part presents proposals for how a participatory economy might engage in long-run, development planning of different kinds – education planning, environmental planning, strategic international economic planning, and infrastructure planning. It explains how these plans, which stretch over many decades, can be updated when results of annual plans reveal that initial estimates of key future parameters turn out to be erroneous – much as we demonstrated in Part IV that shorter-term investment plans can be updated to mitigate welfare losses. The part also identifies conditions that are unique to education planning, environmental planning, international economic planning, and infrastructure planning that must be taken into consideration. It explains how results of annual plans can be used both to update environmental plans and to restrain participants tempted to over or under exaggerate estimates they provide for planning.
