Why does the DCP emphasize Community Wealth Building?

Image courtesy of our partners at The Democracy Collaborative.
Image courtesy of our partners at The Democracy Collaborative.

Credit: The Democracy Collaborative

Using Community Wealth Building (CWB) strategies, the Digital Commonwealth Project is working toward a publicly accountable, community-designed digital platform that addresses local priorities and improves everyday life for Virginians. CWB strategies direct funds so that they circulate economic value locally. Dollars spent locally are more likely to be re-spent locally, raising the overall level of economic activity, paying more salaries, and building the local tax base. This recirculation of money leads to increased local economic activity.

CWB thus leads to communities, rather than transnational corporations, gaining direct control and use of economic assets. These assets in turn generate employment, enable access to critical services, raise wages, and improve social well-being.

Community Wealth Building strategies demonstrably bring numerous benefits, including:  

  • Socioeconomic benefits from the creation of jobs, fair wages, worker ownership of businesses, and the recirculation of local economic value.
  • Political engagement through participatory democracy and the realigning of institutions to community priorities.
  • The balancing of local economic imperatives with local and universal ecological realities (addressing climate threats). 

We envision a critical mass of regional residents, agencies, and organizations that utilize the DCP’s technologies to build community wealth by:

  1. accessing local exchange and mutual aid;
  2. enjoying the social provision of essential services (e.g. child care);
  3. coordinating financial and knowledge resources;
  4. actively participating in democracy (e.g. local government budgeting and planning);
  5. collaborating on climate adaptation, mitigation and ecological restoration projects; and,
  6. supporting restitution and restorative justice programs.

We foresee thriving and resilient local business ecosystems that are experimenting with transitions to worker ownership and keeping economic value circulating regionally. We hope new cooperative and social enterprises emerge, enhancing community access to services (such as transportation and health), quality housing, good jobs and incomes.