IPA: /ˌpæn.tɪˈsɒk.rə.si/
KK: /pæntɪsɒkrəsi/
A social system where everyone has equal power and participates in governing.
The idea of pantisocracy was appealing to those who dreamed of a fair society.
Pantisocracy is formed from "panto-" (from Greek "pantos", meaning all or every) and "-socracy" (from Greek "kratos", meaning power or rule). The word refers to a system of government in which all are equal and have a share in power, thus embodying the idea of rule by all.
Think of 'all' ('panto-') having a share in 'power' ('-socracy') — that's what pantisocracy means, a system where everyone rules together.