ELI5: Explain Like I'm 5

Participatory economics

Participatory economics is a system where people get involved in economic decisions that affect their lives. It means that everyone is given a say and an equal chance in how the economy works. It is a way of creating economic goods that people need, like food and housing, in a way that is fair and equitable. To do this, people work together to make sure that everyone has what they need and everyone’s ideas are included in the decision-making process.