The Elements
Within each pillar there are key elements (actions, activities, approaches) that help to deliver CWB outcomes. There are myriad examples from across the country (and around the world) that can be considered elements of Community Wealth Building, and they are constantly evolving and developing. In this section, we showcase elements that exhibit positive outcomes with relation to specific aspects of CWB under each pillar. We provide context and real-world examples of how these key CWB elements have been applied on the ground to real effect.
Community Wealth Building encompasses many organizations, actors, and institutions; however, an important caveat is that just because elements of CWB activity are taking place in a given community doesn’t mean that Community Wealth Building is being strategically or effectively pursued across the whole of a local economy. Nor are all CWB elements and activities necessarily being undertaken and delivered by those seeking deep systemic economic change. Community Wealth Building is a journey and not a destination, and there will always be room for improvement and refinement. In that spirit, we will be posting more elements progressively, as we have them, and updating them as they evolve and change.
Locally rooted finance
Cities and local institutions should redirect money in service of the real economy through public and community banks, credit unions, targeted public pension investments.
Inclusive and Democratic Enterprise
Cities should have multiple forms of worker and consumer cooperatives, social enterprises, public ownership, municipal enterprise, and more, based on the recognition that the ownership of productive capital is at the heart of where power lies in any political-economic system.
Just use of Land and Property
Cities should mobilize land and property assets to build real wealth in communities, bring local land and real estate development back under community control, and combat speculation and displacement
Fair Work
Every worker must receive a living wage and real power in and control of their workplace for decent work and conditions, and advancing trade union rights.
Progressive Procurement
Local governments and place-based “anchor institutions” should lead with procurement practices that re-localize economic activity, build local multipliers and end leakage and financial extraction.