The New Economy Glossary

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Community Wealth Building

In communities around the world, people have responded to economic pain, growing wealth inequality and neighborhood disinvestment by experimenting with new economic institutions and approaches, including cooperatives, worker-owned firms, non-profit neighborhood corporations, social enterprises, community-based financial institutions, land trusts, and municipal ownership. This is community wealth building, a fast-growing economic development model and movement that strengthens our communities through democratic ownership and control of business and jobs. Community wealth building builds on local talents, capacities, facilities, capital and financial flows to develop locally owned — and often community-owned — businesses that are anchored in place and can sustain the local economy for the long haul. Source: Beautiful Solutions

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