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Michael Albert Essay - [Type text Michael Albert Summary...

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[Type text] Michael Albert Summary Paper PHIL 2390-03 April 2, 2007 In this paper, I will evaluate and summarize Michael Albert’s plan of participatory economics where workers, producers and consumers all correspond with each other to plan their actions that will recognize ethical goals which current “traditional economic institutions and practices” (Albert 4) ignore. Today’s economy overlooks the five ethical criteria that Albert pointed out. These important ethical goals have had negative consequences on our society. Because of these consequences, today’s economy has failed its people, community and environment. The five ethical goals are efficiency “where human characteristics and preferences can develop over time” (Albert 10), equity where you get paid according to the amount of work you put
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[Type text] into it, self-management where all people have a vote according to degree in which the individual is affected, solidarity where everyone’s interests are taken into account, and variety meaning different outlooks or perspectives. (Albert 10-11) Albert describes the system of production in today’s economy and asks if it is acting ethical. Production stems out of private property and therefore the freedom of the workers to have any freedom of choice or say on the way production can be done is minimized or ignored completely. This system is hierarchical where orders are usually sent to workers and workers obey. Workers are left feeling bored, ignorant, unconfident, and deprived. He
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