ZNet Commentary . An economy needs some procedure for coordinating different workers' activities with one another and with the desires of consumers. The procedure, called economic allocation, determines how much of each input and output is used or produced, and where it winds up. The overwhelming consensus is that markets are a worthy economic allocation institution.
Some dissidents still support central planning instead.
In our view, however, both markets and central planning are abysmal and we need participatory planning as an alternative. Markets, No Markets involve buyers and sellers coming together with each trying to maximize his or her own benefit. In any transaction the buyer and seller compete to buy cheap and sell dear. For one to get more, the other must get less. Those affected by the transaction but not directly involved as buyer or seller have no say in it.