Prices in a Participatory Economy
Update: 2023-08-02
Description
Why do we need prices in an economy and how are they generated differently in a Participatory Economy compared to a Capitalist Economy?
This episode of PEP Talk is all about prices. What are “indicative prices'' in the annual participatory planning procedure? What are opportunity costs, social costs and “externalities”? What’s the problem with prices generated in capitalist economies and how are they more accurate in a Participatory Economy?
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