Putting the “Local” in Economic Development: The Role of the Social and Solidarity Economy
Praia, Cabo Verde, from 17th - 20th October, for the 4th World Forum of Local Economic Development (LED).
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SSE organizations are more open to exchange between the production system and the local community due to their participatory governance structures and their attention toward social integration - in short, to their ability to recognize the socially embedded nature of economic action. This makes them better able to identify the demand arising from their communities and to produce the goods and services that are needed at the local level, as well as to leverage resources that would go untapped if they only relied on contractual and monetary relations.
Consequently, the SSE offers an approach to local development that provides potential for a new vision and added value compared to traditional approaches. It widens the structure of a local economy and labour market by addressing unmet needs and producing new or different goods and services, and by broadening the focus of the local development process by taking into consideration the variety of its dimension and building the required level of trust.