Concept

Community-based economics

Résumé
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. The community-based economy can refer to the various initiatives coordinated through multiple forms of interactions. These interactions may involve some form of work performance; project participation; and/or relationship exchange. The forms of interaction can exclude the need to contract; can do away with the need to include some form of monetisation; as well as be free from the need to establish a structure of hierarchy. Community-based economies have been seen to involve aspects of social bonding; value promotion; and establishing community-orientated social goals. It has been suggested that communities that meet their own needs need the glo
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