Community-based economics or community economics is an economic system that encourages voluntary simplicity, self-sufficiency, environmental sustainability, and local investing. Examples include supporting local businesses, investing in community (parks, community gardens, infrastructure), time banking/alternative currencies, mutual aid and resilience circles.
Some other definitions and descriptions of community economics:
“In a community economy our interdependence with each other and with all earth others is recognized and respected as we negotiate: what is necessary to personal, social and ecological survival; how social surplus is appropriated and distributed; how a commons is produced and sustained.” CommunityEconomies.Org
“The “new economy” represents an emerging vision for a just, sustainable, and democratic future."
“Arthur Morgan founded the Yellow Springs Exchange in the 1930s, a local currency that “helped people exchange what they have for what they want”. The exchange did not survive, but Community Solutions has remained committed to creating financial systems that are sustainable, local and just. Restorative economics—economics that repair the fabric of both communities and ecosystems—is a regular topic of our Fellows research and writing, and we offered workshops exploring economic alternatives at our 2015 Climate Change conference. This year, Community Solutions will be a founding member of the Yellow Springs Time Bank.”
Examples of restorative economics include supporting local businesses, investing in community (parks, community gardens, infrastructure), time banking/alternative currencies, mutual aid and resilience circles.