Parecon is a very tough-minded economic vision and model, and it sets a standard for us to look at.

In America, we need to go forward in nationalizing several large corporations: I think that's possible; we nationalized General Motors; we nationalized several of the big banks, de facto; we nationalized Chrysler; we nationalized AIG. I think there will be more crises, and at some point, rather than being bailed out by the government, the public may keep the corporations it has to rescue.

The federalism term is a good term, but it's just below the surface; it's just about to come up into wider public understanding that these practices are happening and are politically viable.

For 40 years, my argument has been that democratizing ownership of wealth has been the key to egalitarian society and the goals of egalitarian society. But you start at the local level, both at the workplace, community and other institutions and you reconstruct the egalitarian democratized structure as well as participatory structure. And as this happens, we learn more how to move toward the vision that is much larger than just the community level.

The top 400 people own more wealth now than the bottom 185 million Americans taken together. That is a medieval structure.

There has been a change in consciousness that makes this one of the most interesting periods of American history, maybe the most interesting. There's a loss of belief in the corporate system; there's a recognition that something is fundamentally wrong, So there's an opening to a whole different vision of where to go forward. I think that's where we are in the question, so let's not blow it; let's see what we can develop over time.

As we move toward the pluralist commonwealth, economic interventions that stabilize communities - for instance by localizing the flows of goods and services or by promoting worker ownership - not only have immediate practical benefits but provide the necessary preconditions for the growth and development of a renewed culture of sustainable democracy that can serve as the basis for still further transformations at larger scales.