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Paper short abstract:

The presentation argues that community economy models, by prioritizing access to needs satisfiers of the community over private gains, and by mobilizing ICTs for wellbeing, have important implications for expanding and nurture the capabilities of those in need.

Paper long abstract:

Two contrasting approaches to value creation emerge: materialism, emphasizing profit at the expense of sustainability and human needs, and community economy, which emphasizes social provisioning, resource sharing, non-monetary interactions, participatory decision-making, and sustainable technology use. Community economy models prioritize satisfying the needs of the community over individual profit, leveraging information and communication technologies (ICTs) to enhance wellbeing.

Illustrative case studies, such as the Cooperative for Ethical Financing (CEF) in Croatia and Buurtzorg India (BI), exemplify community economy principles in action. CEF, a non-profit organization, operates as a democratic entity with members collectively owning assets and making decisions. Emphasizing financial sustainability, ecological impact, and social responsibility, CEF directs resources towards projects promoting organic agriculture, renewable energy, and social entrepreneurship. It offers credit for essential needs without allowing non-purpose consumer loans, with interest rates capped at 4%. Through an internal crowd investment platform, members can invest in projects meeting ethical standards, distributing risk transparently while potentially earning higher returns.

In India, BI, in partnership with EduGreen, trains rural women as caregivers to deliver affordable healthcare services. Teams comprising nurses and caregivers organize non-invasive care, empowering rural women and providing accessible healthcare. BI prioritizes patient wellbeing over profit, educating patients for self-care and facilitating communication between patients, families and physicians. By treating patients at home, BI reduces costs significantly compared to hospital-based care. IT systems aid in team coordination and knowledge sharing, while BI works on developing emergency medical protocols to address regulatory gaps. With stable employment, relatively high salaries, and dignity in their work, nurses and caregivers experience low turnover rates and contribute positively to their communities.

These case studies demonstrate the viability and effectiveness of community economy models in addressing societal needs, promoting sustainability, and fostering human wellbeing. By prioritizing community over profit and leveraging technology for social good, such models offer a promising alternative to traditional economic paradigms.