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Vancouver Participatory Economics Collective

This is the blog for the Vancouver ParEcon Collective. Posts are made by collective members, regarding participatory economics, vision, strategy and related issues.

Sunday, September 19, 2004

Medal of the President of the Italian Republic

Michael Albert has recently won the "Medal of the President of the Italian Republic". It is for his and Robin Hahnel's years long effort to creat "a bold, innovative economic theory aimed at replacing self-serving competition in the economic field with egalitarian cooperation."

Below is Michael's award invitation, to be accepted in mid October. It is signed by none other than Mikhail Gorbachev....

Medal of the President of the Italian Republic
Awarded by the International Scientific Committee of the Pio Manzù Centre to Michael Albert

The highly prolific American economist Michael Albert is the author of a bold, innovative economic theory aimed at replacing self-serving competition in the economic field with egalitarian cooperation.

Together with his co-author Robin Hahnel, Professor of Economics at American University, Washington D.C., he has developed and popularised a radical economic model, known as Participatory Economics, which constitutes an alternative both to capitalism and to what used to be the Soviet-style model of Real Socialism.

In Participatory Economics, solidarity takes the place of competition and remuneration for duration, intensity, and onerousness of work replaces remuneration for property, power, or output. Likewise, methods of self management replace authoritarian decision making and a new method of allocation called participatory planning replaces markets.

To realise his project of radically changing a private-enterprise production system that generates economic inefficiency, Michael Albert counts on workers and consumers operating in councils according to the principle of participatory self-management.

The Pio Manzù Centre recognises that this American economist’s radical new theory constitutes the most powerful and fully articulated challenge to the current models of socio-economic thought and that Albert’s outstanding merit lies in the fact that he has indicated a new major highway in economic organisation as a feasible proposition.

Mikhail Gorbachev, President
Rimini, 17 October 2004