Twenty years ago Michael Albert already developed an alternative economic system. It offers not only an alternative to capitalism but also to a centrally planned socialism and a so called bio-regionalism, the idea that regions should function autonomous from each other. Albert calls the economic alternative “participatory economics”. Instead of pushing inequality and competition the economy should be designed to further solidarity and mutual help. To achieve this aim four institutional commitments are necessary, says Albert: Workers and consumers self-managing councils, equitable enumeration for the ratio of intensity and onerousness of socially valued labor, balanced job complexes and participatory planning. The overarching goal must be classlessness. Participatory economics not only want to get rid of markets and the 2-percent-owner-class as driving forces behind the economy but also the 20-percent-coordinator-class of engineers, lawyers or managers who monopolize all the empowering tasks in society. These tasks should be spread over the whole population.