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If you want a full understanding of participatory economics, and you are not a professional economist, the only thing you need to read is Michael Albert’s Parecon: Life After Capitalism (Verso Press, 2003).  The full text is available online for free here, or you can find the book at Amazon here.

If you are a professional economist and you want to understand parecon, you will want to read Michael Albert and Robin Hahnel’s Political Economy of Participatory Economics (Princeton University Press, 1991).  The full text is available online for free here, or you can find the book at Amazon here.

Also, professional economists will want to read Hahnel and Albert’s Quiet Revolution in Welfare Economics (Princeton University Press, 1990).  This book is not about parecon per se, but the theorems contained in it are fundamental to the authors’ work in Political Economy.  The full text is available online for free here, or you can find the book at Amazon here.

A short summary (about 875 words) of parecon can be found here.

A longer summary (about 4,000 words) can be found here.