Publication details
Economic Localisation in the Context of Sustainable Rural Development
| Authors | |
|---|---|
| Year of publication | 2008 |
| Type | Conference abstract |
| MU Faculty or unit | |
| Citation | |
| Description | The term economic localisation, as defined by C. Hines, H. Norberg-Hodge and others, involves support for locally owned enterprises which use local resources, employ locals and serve local consumers. Local ownership can enhance economic democracy and social capital. Local economic loops limit pressures on the environment while supporting economic security and local employment through the local multiplier effect. Local money circulation, exmeplified e.g. by credit unions, with a "common bond", can be an important source of funding for social enteprise. Some caveats and limitations of the concept as well as examples of successful projects were discussed. |