Community Wealth Building
In the wake of the Covid-19 pandemic, we face the task of rebuilding local economies. The Centre for Local Economic Studies, advocate a people-centred approach to regeneration:
“Traditional economic development practice and developer-led regeneration are failing to address the economic challenges of our time. Community wealth building is a new people-centred approach to local economic development, which redirects wealth back into the local economy, and places control and benefits into the hands of local people.”
The Preston model is an example of this approach.
What is Community Wealth Building?
Since 1986, CLES has been working with people across the UK and internationally, who can imagine a better way of…
The people-centered approach was described in a free-to-use paper published in 1996, which made the case for a business model , using its profit to stimulate local economic conditions rather than maximise shareholder returns:
“At first glance, it might seem redundant to emphasize people as the central focus of economics. After all, isn’t the purpose of economics, as well as business, people? Aren’t people automatically the central focus of business and economic activities? Yes and no.”
History | People-Centered Economic Development
People-Centered Economic Development, P-CED, derived from a paper for the steering committee to reelect the [US]…
In 1999 it was applied in a proof of concept project in Russia, known as the Tomsk Regional Initiative which led to the creation of several thousand microenterprises, with more than 80% started by women:
Russia | People-Centered Economic Development
In May-July, 1999, I traveled to Russia to study the possibility of a development project in Tomsk oblast. In August…
Introduced to the UK in 2004, founder Terry Hallman described how it began with his voluntary role on Bill Clinton’s re-election campaign:
Economic Development in Crimea and the Crimean Tatars
The following interview with Terry Hallman, Director of the London-based People-Centered Economic Development Ltd…
It was introduced to the Forest of Dean in 2004 with a business plan to tackle poverty. A network of community broadband installations , directing 50% of their profit to community development funds:
UK Community Broadband | People-Centered Economic Development
An extract from the 2004 business plan for P-CED UK: People-Centered Economic Development (P-CED) began as a concept in…
In 2007 a ‘Marshall Plan’ for Ukraine described how this approach could be deployed on a national level to resolve a broad range of social problems:
A national scale approach may now be needed here.