COMMUNITY WEALTH BUILDING
The current approach to economic development includes:
- Tax breaks to entice corporations to relocate.
- Workforce training not linked to actual jobs.
- Regional trickle-down strategies that often do not trickle-down.
- Low-wage job creation, often without benefits.
- Privatization of publicly owned goods.
Community wealth building strategies:
- Provide everyone with the opportunity for a healthy, dignified and fulfilling life.
- Bring human consumption into balance with earth’s natural systems.
- Honor sound, rule-based market systems.
- Support equitable and socially efficient allocation of resources.
- Nurture relationships within strong, caring communities.
- Broaden capital ownership and stewardship.
- Build individual and family wealth, including among low-income families.
- Anchor jobs locally and own our jobs through co-op structures, employee-owned businesses, and social enterprises.
- Leverage anchor institutions for local benefit.
- Plug the leak and keep dollars at home.
“Ownership is the ultimate realm of economic power. We all belong there—in the same way we all belong in the halls of democracy….When more and more of us become comfortable entering the seemingly forbidden space of ownership—daring to dream together of remaking it—that’s when we will truly own our future.”
–Marjorie Kelly, Owning The Future