Principles of Community Wealth Building (CWB)
co-developed by the CWB Community of Practice
Just as there is no one-size-fits-all model of Community Wealth Building, there is also no one-size-fits-all definition for it as it must reflect and mesh with the context and politics of a place. The Democracy Collaborative has our own broad definition, intended to be amended for local use. Practitioners in place often have their own definition as well, like many that are part of TDC’s Community of Practice, including WEPOWER in St. Louis, the Atlanta Wealth Building Initiative, and the City of Chicago. Yet while definitions may vary, the ultimate aim of CWB remains the same: to transform local economies to be more equitable, just and sustainable. To realize this transformation, this Community of Practice agrees that the following principles must undergird a true CWB approach to economic development:
Community Wealth Building is all about shared power and collective ownership. In addressing structural inequality, CWB strategies redistribute power and collectivize ownership of all assets that generate wealth, including land and property, labor, finance, and enterprise. In this way, CWB is an economic development model that democratizes local economies.
The work of Community Wealth Building is done in partnership—in an ecosystem. CWB cannot happen in a silo; it requires authentic and sustained relationships in coalition with stakeholders from across the community working together, acknowledging and grappling with power dynamics, in a collaborative spirit from ideation to implementation.
Community Wealth Building is, ultimately, systems-level work. Though often place-based in practice, CWB does not simply tinker at the edges of the current economic system. Instead, it leverages a plurality of strategies to transform economic systems at the root. As such, CWB interventions must take individuals and institutions as well as systems into account.
Ecological sustainability and just transitions are at the core of Community Wealth Building practices and outcomes. We recognize that the current economic paradigm sees the natural environment and its resources as nothing more than a commodity. CWB strategies actively refute that paradigm, centering the natural world and ensuring a just transition to a green economy that democratizes ownership and places greater control of new sustainable economies in the hands of community.
Embracing opportunity within Community Wealth Building means fostering inclusive economic transformation. CWB is about dismantling barriers and creating pathways for all individuals to actively participate in and benefit from local economic endeavors. By prioritizing equitable access to resources and assets and ensuring that community owns and drives CWB efforts, we catalyze a dynamic shift towards prosperity for every member of our community.
Racial justice lies at the heart of Community Wealth Building, demanding deliberate action to dismantle systemic racism and ensure equity for all. CWB necessitates a commitment to uprooting the entrenched inequalities that perpetuate racial disparities in wealth, employment, and access to resources. Through intentional anti-racist policies, inclusive governance structures, and reparative initiatives that center the knowledge and talent of communities of color, we endeavor to create a society where every individual, regardless of race or ethnicity, has equal opportunities to prosper and thrive.
Wellbeing is the ultimate currency of Community Wealth Building, reflecting a commitment to nurturing the holistic prosperity of individuals and communities alike. CWB goes beyond mere economic indicators to encompass factors such as health, education, social cohesion, and cultural vitality. By fostering environments that prioritize human flourishing over profit-driven motives, we create pathways towards shared prosperity, where the collective wellbeing of all members serves as the true measure of success.
Community Wealth Building enables the mutual recognition of shared economic responsibility and solidarity. CWB requires the members of a community to self-consciously work together to co-create, build, and sustain economic institutions together for collective benefit. This enables individuals and communities to see the value in their work, in one another, and in their communities themselves.
Enabling Conditions for Community Wealth Building
Introduction
This working paper summarizes and explores the enabling conditions which influence the start up, growth, and—ultimately—success of Community Wealth Building (CWB) in place. These conditions are identified from observed patterns of CWB in practice, including from the work of practitioners in The Democracy Collaborative’s CWB Community of Practice. They also reflect the learning from TDC’s engagement with CWB practitioners and partner organizations across the USA and abroad.
Alongside TDC’s Five Pillar model for CWB activities, these enabling conditions offer a means by which we can deliver CWB more effectively.