Solidarity economy

A solidarity economy is an economy based on efforts that seek to increase the quality of life of a region or community through not-for-profit endeavors. It mainly consists of activities organized to address and transform exploitation under capitalist economics and the corporation executive, large shareholder dominated economy, and can include diverse phenomena.[1] For some, it refers to a set of strategies and a struggle aimed at the abolition of capitalism and the social relations that it supports and encourages; for others, it names strategies for "humanizing" the capitalist economy—seeking to supplement capitalist globalization with community-based "social safety nets".

The still evolving term, "solidarity economy", is an English translation of a concept formulated in Lima, Peru in 1997 (economía solidaria), in Quebec in 2001,[2] and in Brazil during the World Social Forum of 2001, and in Portuguese as "economia solidária".[3] It is also represented by the French "économie solidaire" and similar terms in several other languages. As such it is sometimes translated by other expressions such as "solidarity-based economy".

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