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Community-based economics or community economics is an economic system that encourages local substitution. It is similar to the lifeways of those practicing voluntary simplicity, including traditional Mennonite, Amish, and modern eco-village communities. It is also a subject in urban economics, related to moral purchasing and local purchasing. [1]
Community economic development (CED) is a field of study that actively elicits community involvement when working with government and private sectors to build strong communities, industries, and markets. [1] It includes collaborative and participatory involvement of community dwellers in every area of development that affects their standard of ...
Community-driven development (CDD) is an initiative in the field of development that provides control of the development process, resources and decision making authority directly to groups in the community. The underlying assumption of CDD projects are that communities are the best judges of how their lives and livelihoods can be improved and ...
The community produces far more food and water than it needs. It uses regenerative agriculture as a base to live in harmony with nature. Sustainable community initiatives have emerged in neighborhoods, cities, counties, metropolitan planning districts, and watershed districts at different scales pertaining to community needs. These initiatives ...
Daphne Greenwood and Richard Holt distinguish economic development from economic growth on the basis that economic development is a "broadly based and sustainable increase in the overall standard of living for individuals within a community", and measures of growth such as per capita income do not necessarily correlate with improvements in ...
There are several definitions for local economic development. In one of the early concept notes on LED, the World Bank in 2006 defined LED as "the process by which public, business and non-governmental sector partners work collectively to create better conditions for economic growth and employment generation.
Community development is also understood as a professional discipline, and is defined by the International Association for Community Development as "a practice-based profession and an academic discipline that promotes participative democracy, sustainable development, rights, economic opportunity, equality and social justice, through the ...
The local development approach considers the endogenous potentialities of territories. Economic and non economic factors influence local development processes. Among the non economic factors, social, cultural, historical, institutional, and geographical aspects can be decisive in the process of local economic development. [3]