Participatory economics is an economic system that emphasizes democratic and participatory decision-making processes to allocate resources and distribute wealth. Synonyms for this term can include participatory democracy, cooperative economics, and democratic socialism. Other related terms might include economic democracy, resource-based economy, social justice economics, and communal ownership. Each of these terms reflects slightly different values and priorities, but all share a common goal of creating a more equitable and sustainable economic system that puts the needs of people and communities first. Whether through direct worker ownership, community decision-making, or more democratic forms of government, participatory economics seeks to create a more just and equitable world.