Restorative Economy is the process of assisting the recovery of communities that have been degraded, damaged, or excluded by the current economic system. This is part of a global movement, also known as the Solidarity Economy, which aims to build a just and sustainable economy where we prioritize people and the planet over endless profit and growth. This system provides real alternatives such as creating democratic spaces where all community voices are heard; promoting cooperative and inclusive relationships; and building models of community wealth and ownership to leverage joint economic power to collectively assert rights and exercise political power.
The restorative economic system focuses on the process of building economic practices and institutions based on the values of equity, cooperation, solidarity, economic and political democracy.
Some restorative economy entities include: cooperatives (worker-owned, consumer, producer), public banks, community land trusts, and time banks. Additionally, this system also promotes community civic engagement and participation. For instance, introducing participatory budgeting, which is a process of democratic deliberation and decision-making, in which community residents are engaged with local government on how to allocate part of the public budget.
The restorative economic system focuses on the process of building economic practices and institutions based on the values of equity, cooperation, solidarity, economic and political democracy.
Some restorative economy entities include: cooperatives (worker-owned, consumer, producer), public banks, community land trusts, and time banks. Additionally, this system also promotes community civic engagement and participation. For instance, introducing participatory budgeting, which is a process of democratic deliberation and decision-making, in which community residents are engaged with local government on how to allocate part of the public budget.
For additional information, please take a look at some of our favorite articles and videos:
- What is Restorative Economics by Nwamaka Agbo
- The Case for Investing in Employee Ownership by Marjorie Kelly and Karen Kahn
- Seven Ways to Build the Solidarity Economy by Emily Kawano
- Restorative Economics: A Values-Based Roadmap to a Just Economy by Nwamaka Agbo
- Qué es una cooperativa from Alianza Cooperative Internacional
- Economia solidaria en Latinoamerica by Pablo Guerra
- The Black Social Economy from Boston Ujima Project
Learn more about the actors in the Chicago Restorative Economy space:
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