Community-based economics is a term that is used to describe a variety of economic models which emphasize local economic development and community involvement in the economy. Community-based economics typically promote Local ownership, localization, and cooperation between businesses and community members.

The goals of community-based economics are to create jobs and wealth within the community, keep money circulating locally, build strong social ties between neighbors, and create a sense of place. One way that community-based economics achieves these goals is by supporting local businesses and discouraging big box stores and other forms of corporate control.

Another key element of community-based economics is worker cooperatives. Worker cooperatives are businesses that are owned and democratically controlled by their employees. This type of business structure allows workers to have a say in how the business is run and provides them with more job security and better wages.

Community-based economics can be contrasted with neoliberal economics, which is an economic ideology that emphasizes deregulation, free trade, and privatization. Neoliberal economics often leads to increased inequality and poverty, as well as environmental degradation. In contrast, community-based economics strives to create local jobs and wealth, keep money circulating within the community, and build social ties between neighbors.

There are many different ways to put community-based economics into practice. Some communities may focus on supporting local businesses, while others may emphasize worker cooperatives or community-owned land. The important thing is that each community tailors its approach to meet its own unique needs and goals.