Michael Albert

Michael Albert is an American economist and social theorist known for co-founding the participatory economics (Parecon) model. Parecon promotes a cooperative society where workers and consumers have democratic control over economic decisions, aiming to reduce inequality and prioritize collective well-being. Albert critiques traditional capitalism and socialism, advocating for a system rooted in participatory decision-making and equitable resource distribution. His work emphasizes empowering individuals to influence economic structures, fostering a more just and sustainable society through consensus and balanced decision-making processes.