Community capitalism is an approach to capitalism that places a priority on the well-being and sustainability of the community as a whole. The community could be a metropolitan area, region, or an entire country.
In 1997, The American Assembly published a report titled "Community Capitalism: Rediscovering the Markets of America's Urban Neighborhoods",[1] which they distributed to business leaders, President Clinton, cabinet members, members of Congress and governors, and the general public.
In 2013, George R. Tyler published the book What Went Wrong: How the 1% Hijacked the American Middle Class ... and What Other Countries Got Right,[2] which describes the community capitalism models (which Tyler calls family capitalism) used by countries that have helped their citizens to prosper, despite the forces of globalization. He contrasts the experience of the U.S. over the past 30 years to that of Australia and the major nations of northern Europe (Austria, Belgium, Denmark, France, Germany, the Netherlands and Sweden).
In the United States, there is a growing opinion by some citizens across the political spectrum that the laissez-faire model of capitalism might be fundamentally flawed in some way.[3] By re-framing the debate around how people can leverage the positive aspects of capitalism to strengthen communities, the hope is that the country can move beyond partisan politics and towards a collective plan of action.
After a long period of corporatedownsizings and results of mergers and acquisitions (most notably by Upjohn/Pharmacia/Pfizer, General Motors, First of America/National City and the paper industry), the Kalamazoo region went about changing the face of its downtown. It set up one of the nation's only community-based venture funds; establishing the "Southwest Michigan First Life Science Fund";[4] refurbishing a 2,200,000-square-foot (200,000 m2) abandoned automotive stamping plant; building a 58,000-square-foot (5,400 m2) life science accelerator; embracing the concept of talent-driven organizations; and funding the Kalamazoo Promise scholarship program.[5] The community has since seen resurgence in job creation and overall economic growth.[citation needed]
The term community capitalism was used by Fast Company magazine in naming Kalamazoo in its "Fast 50" list in 2007.[6][7]
^. americanassembly.org. Archived from the original on 2016-03-04. Retrieved 2018-08-07.
^"What Went Wrong". Kirkus Reviews. 26 May 2013. Retrieved 2020-05-24.
^Costly, Andrew. "BRIA 19 2 b Social Darwinism and American Laissez-faire Capitalism - Constitutional Rights Foundation". www.crf-usa.org. Retrieved 2018-08-07.
^"Southwest Michigan First Life Science Fund formalizes management ties with Open Prairie Ventures". MLive.com. Retrieved 2018-08-07.
^Bennett, Jeff (July 28, 2008). "Class act: Kalamazoo's lesson: Educate and they will come". The Wall Street Journal.
^Kitchens, Ron (December 2010). "Community Capitalism: The Local Response to the Need for Economic Growth and Diversification". Local Economy: The Journal of the Local Economy Policy Unit. 25 (8): 691–698. doi:10.1080/02690942.2010.533418. S2CID 153652464.
Further readingedit
Kitchens, Ron; Gross, Daniel; Smith, Heather (2008). Community Capitalism: Lessons from Kalamazoo and Beyond. Bloomington, IN: AuthorHouse. ISBN9781434381729. OCLC 232300129.
January 01, 1970
community, capitalism, this, article, includes, list, general, references, lacks, sufficient, corresponding, inline, citations, please, help, improve, this, article, introducing, more, precise, citations, 2020, learn, when, remove, this, message, approach, cap. This article includes a list of general references but it lacks sufficient corresponding inline citations Please help to improve this article by introducing more precise citations May 2020 Learn how and when to remove this message Community capitalism is an approach to capitalism that places a priority on the well being and sustainability of the community as a whole The community could be a metropolitan area region or an entire country Contents 1 Overview 2 In Kalamazoo Michigan 3 See also 4 References 5 Further readingOverview editIn 1997 The American Assembly published a report titled Community Capitalism Rediscovering the Markets of America s Urban Neighborhoods 1 which they distributed to business leaders President Clinton cabinet members members of Congress and governors and the general public In 2013 George R Tyler published the book What Went Wrong How the 1 Hijacked the American Middle Class and What Other Countries Got Right 2 which describes the community capitalism models which Tyler calls family capitalism used by countries that have helped their citizens to prosper despite the forces of globalization He contrasts the experience of the U S over the past 30 years to that of Australia and the major nations of northern Europe Austria Belgium Denmark France Germany the Netherlands and Sweden In the United States there is a growing opinion by some citizens across the political spectrum that the laissez faire model of capitalism might be fundamentally flawed in some way 3 By re framing the debate around how people can leverage the positive aspects of capitalism to strengthen communities the hope is that the country can move beyond partisan politics and towards a collective plan of action In Kalamazoo Michigan editCommunity capitalism is the long term strategy for economic growth of Kalamazoo Michigan The system uses focused and organized philanthropy and business investment occurring simultaneously It focuses community resources into five key areas place capital infrastructure talent and education After a long period of corporate downsizings and results of mergers and acquisitions most notably by Upjohn Pharmacia Pfizer General Motors First of America National City and the paper industry the Kalamazoo region went about changing the face of its downtown It set up one of the nation s only community based venture funds establishing the Southwest Michigan First Life Science Fund 4 refurbishing a 2 200 000 square foot 200 000 m2 abandoned automotive stamping plant building a 58 000 square foot 5 400 m2 life science accelerator embracing the concept of talent driven organizations and funding the Kalamazoo Promise scholarship program 5 The community has since seen resurgence in job creation and overall economic growth citation needed The term community capitalism was used by Fast Company magazine in naming Kalamazoo in its Fast 50 list in 2007 6 7 See also editBinary economics Corporate social responsibility Creating shared value Humanistic capitalism Inclusive capitalism Inclusive growth Neo Capitalism Progressive capitalism RedwashingReferences edit Community Capitalism Rediscovering the Markets of America s Urban Neighborhoods The American Assembly americanassembly org Archived from the original on 2016 03 04 Retrieved 2018 08 07 What Went Wrong Kirkus Reviews 26 May 2013 Retrieved 2020 05 24 Costly Andrew BRIA 19 2 b Social Darwinism and American Laissez faire Capitalism Constitutional Rights Foundation www crf usa org Retrieved 2018 08 07 Southwest Michigan First Life Science Fund formalizes management ties with Open Prairie Ventures MLive com Retrieved 2018 08 07 Bennett Jeff July 28 2008 Class act Kalamazoo s lesson Educate and they will come The Wall Street Journal Salter Chuck December 20 2007 Kalamazoo Michigan Fast Company Retrieved 2020 05 24 Kitchens Ron December 2010 Community Capitalism The Local Response to the Need for Economic Growth and Diversification Local Economy The Journal of the Local Economy Policy Unit 25 8 691 698 doi 10 1080 02690942 2010 533418 S2CID 153652464 Further reading editKitchens Ron Gross Daniel Smith Heather 2008 Community Capitalism Lessons from Kalamazoo and Beyond Bloomington IN AuthorHouse ISBN 9781434381729 OCLC 232300129 Retrieved from https en wikipedia org w index php title Community capitalism amp oldid 1194873228, wikipedia, wiki, book, books, library,
