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{{Short description|Form of capitalism}}
'''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. Other terms for community capitalism include '[[sustainable capitalism]]', 'stakeholder capitalism<ref>{{Cite web|url=https://www.huffingtonpost.com/pilar-stella/stakeholder-capitalism-th_b_7862048.html|title=Stakeholder Capitalism: The New Capitalist Model|last=Stella|first=Pilar|date=2015-07-29|website=Huffington Post|language=en-US|access-date=2018-08-07}}</ref>', and 'family capitalism<ref>{{Cite news|url=https://www.economist.com/schumpeter/2011/08/01/all-in-the-family|title=All in the family|work=The Economist|access-date=2018-08-07|language=en}}</ref>'.
{{more footnotes|date=May 2020}}
{{Capitalism sidebar}}
'''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.


== Overview ==
In 1997, [[The American Assembly]] published a report titled "Community Capitalism: Rediscovering the Markets of America's Urban Neighborhoods<ref>{{Cite web|url=http://americanassembly.org/publication/community-capitalism-rediscovering-markets-americas-urban-neighborhoods|title=Community Capitalism: Rediscovering the Markets of America's Urban Neighborhoods {{!}} The American Assembly|website=americanassembly.org|language=en|access-date=2018-08-07}}</ref>", which they distributed to business leaders, [[Bill Clinton|President Clinton]], cabinet members, members of Congress and governors, and the general public.
In 1997, [[The American Assembly]] published a report titled "Community Capitalism: Rediscovering the Markets of America's Urban Neighborhoods",<ref>{{Cite web|url=http://americanassembly.org/publication/community-capitalism-rediscovering-markets-americas-urban-neighborhoods|title=Community Capitalism: Rediscovering the Markets of America's Urban Neighborhoods {{!}} The American Assembly|website=americanassembly.org|language=en|access-date=2018-08-07|archive-url=https://web.archive.org/web/20160304025154/http://americanassembly.org/publication/community-capitalism-rediscovering-markets-americas-urban-neighborhoods|archive-date=2016-03-04|url-status=dead}}</ref> which they distributed to business leaders, [[Bill Clinton|President Clinton]], cabinet members, members of Congress and governors, and the general public.


In 2013, [https://www.theglobalist.com/contributors/george-tyler/ George R. Tyler] published the book ''What Went Wrong: How the 1% Hijacked the American Middle Class''<ref>{{Cite web|url=https://www.georgertyler.com/about-what-went-wrong.html|title=About What Went Wrong|website=George R. Tyler|language=en|access-date=2018-08-07}}</ref> ''. . . and What Other Countries Got Right'', which describes the 'Community Capitalism' models (which he terms Family Capitalism<ref>{{Cite news|url=https://www.economist.com/schumpeter/2011/08/01/all-in-the-family|title=All in the family|work=The Economist|access-date=2018-08-07|language=en}}</ref>) 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 2013, George R. Tyler published the book ''What Went Wrong: How the 1% Hijacked the American Middle Class&nbsp;... and What Other Countries Got Right'',<ref>{{cite web |url=https://www.kirkusreviews.com/book-reviews/george-r-tyler/what-went-wrong/ |title=What Went Wrong |website=[[Kirkus Reviews]] |date=26 May 2013 |access-date=2020-05-24}}</ref> 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.<ref>{{Cite web|url=http://www.crf-usa.org/bill-of-rights-in-action/bria-19-2-b-social-darwinism-and-american-laissez-faire-capitalism.html|title=BRIA 19 2 b Social Darwinism and American Laissez-faire Capitalism - Constitutional Rights Foundation|last=Costly|first=Andrew|website=www.crf-usa.org|language=en-us|access-date=2018-08-07}}</ref> By re-framing the debate around how we can leverage the positive aspects of capitalism to strengthen our communities, the hope is that the country can move beyond partisan politics and towards a collective plan of action.
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.<ref>{{Cite web|url=http://www.crf-usa.org/bill-of-rights-in-action/bria-19-2-b-social-darwinism-and-american-laissez-faire-capitalism.html|title=BRIA 19 2 b Social Darwinism and American Laissez-faire Capitalism - Constitutional Rights Foundation|last=Costly|first=Andrew|website=www.crf-usa.org|language=en-us|access-date=2018-08-07}}</ref> 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 ==
The “Human Capitalism” or “Human-Centered Capitalism” proposed by 2020 Democratic presidential candidate [[Andrew Yang]] could be described as a form of community capitalism.<ref>{{Cite web|url=https://www.yang2020.com/policies/human-capitalism/}}</ref>

==Kalamazoo==
Community 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: [[Location|place]], [[Capital (economics)|capital]], [[infrastructure]], [[Aptitude|talent]] and [[education]].
Community 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: [[Location|place]], [[Capital (economics)|capital]], [[infrastructure]], [[Aptitude|talent]] and [[education]].


⚫
After a long period of [[corporate]] [[Layoff|downsizing]]s and results of [[mergers and acquisitions]] (most notably by [[Upjohn]]/[[Pharmacia]]/[[Pfizer]], [[General Motors]], [[First of America]]/[[National City Corp.|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 capital financing|venture funds]]; establishing the "Southwest Michigan First Life Science Fund";<ref>{{Cite news|url=https://www.mlive.com/business/west-michigan/index.ssf/2012/06/southwest_michigan_first_life.html|title=Southwest Michigan First Life Science Fund formalizes management ties with Open Prairie Ventures|work=MLive.com|access-date=2018-08-07|language=en-US}}</ref> refurbishing a {{convert|2200000|sqft|m2|adj=on}} abandoned automotive stamping plant; building a {{convert|58000|sqft|m2|adj=on}} life science accelerator; embracing the concept of talent-driven organizations; and funding the [[Kalamazoo Promise]] scholarship program.<ref>{{cite news |url=https://www.wsj.com/articles/SB121676435398175079 |newspaper=[[The Wall Street Journal]] |date=July 28, 2008 |first=Jeff |last=Bennett |title=Class act: Kalamazoo's lesson: Educate and they will come}}</ref> The community has since seen resurgence in job creation and overall [[economic growth]].{{citation needed|date=May 2020}}
===History in Kalamazoo===
⚫
After a long period of [[corporate]] [[Layoff|downsizing]]s and results of [[mergers and acquisitions]] (most notably by [[Upjohn]]/[[Pharmacia]]/[[Pfizer]], [[General Motors]], [[First of America]]/[[National City Corp.|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 capital financing|venture funds]]; establishing the "Southwest Michigan First Life Science Fund<ref>{{Cite news|url=https://www.mlive.com/business/west-michigan/index.ssf/2012/06/southwest_michigan_first_life.html|title=Southwest Michigan First Life Science Fund formalizes management ties with Open Prairie Ventures|work=MLive.com|access-date=2018-08-07|language=en-US}}</ref>"; refurbishing a {{convert|2200000|sqft|m2|adj=on}} abandoned automotive stamping plant; building a {{convert|58000|sqft|m2|adj=on}} life science accelerator; embracing the concept of talent-driven organizations; and funding the world-renowned [[Kalamazoo Promise]] scholarship program. The community has since seen resurgence in job creation and overall [[economic growth]].


The term ''community capitalism'' was used by ''[[Fast Company]]'' magazine in naming Kalamazoo in its "Fast 50" list in 2007.<ref>{{cite web |url=https://www.fastcompany.com/3019121/18kalamazoo-michigan |last=Salter |first=Chuck |date=December 20, 2007 |title=Kalamazoo – Michigan |website=[[Fast Company]] |access-date=2020-05-24}}</ref><ref>{{cite journal |last=Kitchens |first=Ron |date=December 2010 |title=Community Capitalism: The Local Response to the Need for Economic Growth and Diversification |journal=Local Economy: The Journal of the Local Economy Policy Unit |volume=25 |issue=8 |pages=691–698 |doi=10.1080/02690942.2010.533418|s2cid=153652464 }}</ref>
The term 'community capitalism' was used by [https://www.fastcompany.com/magazine ''Fast Company'' Magazine] in naming Kalamazoo in its "[https://www.fastcompany.com/3024318/about-the-fast-50 Fast 50]" list in 2007.


==E2M economic model==
== See also ==
* [[Binary economics]]
The [[E2M]]<ref>{{Cite web|url=http://legacy.e2m.org/what_is_e2m.html|title=E2M {{!}} An Economic Movement for Millenium 2000 {{!}} What is E2M|website=legacy.e2m.org|language=en|access-date=2018-08-07}}</ref> model of community capitalism and community conscious capitalism was first described on January 1, 2000 by Michael Garjian<ref>{{Cite web|url=https://patents.justia.com/inventor/michael-garjian|title=Michael Garjian Inventions, Patents and Patent Applications - Justia Patents Search|website=patents.justia.com|language=en|access-date=2018-08-07}}</ref> in a document titled ''E2M: An Economic Model for Millennium 2000''.<ref>{{Cite web|url=http://legacy.e2m.org/history.html|title=E2M {{!}} An Economic Movement for Millenium 2000 {{!}} History|website=legacy.e2m.org|language=en|access-date=2018-08-07}}</ref> It was documented in the following:
* [[Corporate social responsibility]]
# A letter to Garjian from the [https://www.umb.edu/research/info_for_faculty_staff/commercial_ventures_intellectual_property Department of Commercial Ventures and Intellectual Property at the University of Massachusetts], Amherst on August 16, 2000
* [[Creating shared value]]
# A letter from Massachusetts Congressman [[John Walter Olver]] to the [[Ford Foundation]] on March 1, 2001
* [[Humanistic capitalism]]
# A letter to Garjian from the [[Ford Foundation]] on April 3, 2001
* [[Inclusive capitalism]]
# A letter to Garjian from [[Hampshire College]] President [[Gregory S. Prince Jr.]] on August 20, 2001
* [[Inclusive growth]]
#
* [[Neo-Capitalism]]
The ''E2M model'' of community capitalism was further described in detail to [http://www.thecsrgroup.com/index.php/who-we-are/advisory-board/13-terry-mollner Terry Mollner of the Social Venture Network] who was invited by Garjian to a private meeting of the E2M Board of Directors on March 26, 2001. Mollner was the featured speaker at Garjian's invitation at the Western Massachusetts Venture Forum<ref>{{Cite web|url=http://www.wmassventureforum.org/2018/02/western-mass-venture-forum/|title=Western Mass Venture Forum: 2001-09 Sep 2001 – wmass|website=www.wmassventureforum.org|language=en-US|access-date=2018-08-07}}</ref> at [[American International College]] on March 27, 2001<ref>[http://www.wmassventureforum.org/index-03.html Venture Forum]</ref> where E2M was discussed privately to a selected group.
* [[Progressive capitalism]]
* [[Redwashing]]


⚫
== References ==
A second private forum was held at the home of [[Hampshire College]] President [[Gregory S. Prince Jr.]] on December 11, 2001 for selected community leaders including representatives from the [http://svn.org/ Social Venture Network], [https://www.bsr.org/ Businesses for Social Responsibility], [https://www.mass-ventures.com/ MassVentures], local entrepreneurs, government leaders, investment advisers, and citizens. A number of additional forums discussing E2M community capitalism were held at [[Hampshire College]], March 26, 2002, the [[University of Massachusetts Boston|University of Massachusetts]] in 2003, the [http://bostonsocialforum.org/archive/ Boston Social Forum] on July 24, 2004, and in private meetings over several years.

Newspaper articles documenting, but not detailing, E2M Community Capitalism are listed below under 'Further reading'

A provisional patent application for the E2M model of community capitalism was first filed with the US Patent Office on February 6, 2001 with subsequent full applications filed on November 21, 2003 and November 11, 2008.

⚫
==References==
{{reflist}}
{{reflist}}


==Further reading==
== Further reading ==
* {{cite book |last1=Kitchens |first1=Ron |last2=Gross |first2=Daniel |last3=Smith |first3=Heather |date=2008 |title=Community Capitalism: Lessons from Kalamazoo and Beyond |location=Bloomington, IN |publisher=AuthorHouse |isbn=9781434381729 |oclc=232300129 }}
Books and Journals describing E2M Community Capitalism include:
*Ron Kitchens, Dan Gross, and Heather Smith. ''Community Capitalism: Lessons from Kalamazoo and Beyond''.
*Gibson-Graham, J.K. (2006). ''A Postcapitalist Politics''. University of Minnesota Press. pp. xx. {{ISBN|0-8166-4804-2}}.
*Krause, Elizabeth L (February 2005). Michelle Bigenho and Daniel Goldenstein. ed. "In Search of Community Conscious Capitalism". ''Association for Political and Legal Anthropology''.
*Michael Garjian. (2010). ''The Community Age''
*Michael Garjian. (2016). "Community Capitalism:How Communities can use Capitalism to Create a Shared Economy that Works for Everyone


{{aspects of capitalism}}
==External links==
* [https://web.archive.org/web/20110607054414/http://people.umass.edu/ekrause/apla_feb05.pdf In Search of Community Conscious Capitalism]
* [https://web.archive.org/web/20161021215505/http://www.communitycapitalism.org/ Community Capitalism (E2M)]
* [http://www.fastcompany.com/magazine/113/open_18-kalamazoo.html ''Fast Company'', March 2007]
* [https://www.wsj.com/articles/SB121676435398175079?mod=googlenews_wsj ''Wall Street Journal'', July 28, 2008, Jeff Bennett, ''Class Act, Kalamazoo's lesson: Educate and they will come'']
* [https://web.archive.org/web/20110111045809/http://www.southwestmichiganfirst.com/Community_Capitalism%3A_Lessons_from_Kalamazoo_and_Beyond.cfm Lessons from Kalamazoo]
* [http://www.communitycapitalism.com How Communities can use Capitalism to Create a Shared Economy that Works for Everyone]


⚫
[[Category:Kalamazoo, Michigan]]
[[Category:Capitalist systems]]
[[Category:Capitalist systems]]
⚫
[[Category:Economic growth]]
[[Category:Community]]
[[Category:Community]]
[[Category:Economic advocacy groups in the United States]]
[[Category:Economic advocacy groups in the United States]]
⚫
[[Category:Economic growth]]
[[Category:Kalamazoo, Michigan]]

Latest revision as of 00:41, 17 July 2024

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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.

Overview

[edit]

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.

In Kalamazoo, Michigan

[edit]

Community 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

[edit]

References

[edit]
  1. ^ "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.
  2. ^ "What Went Wrong". Kirkus Reviews. 26 May 2013. Retrieved 2020-05-24.
  3. ^ Costly, Andrew. "BRIA 19 2 b Social Darwinism and American Laissez-faire Capitalism - Constitutional Rights Foundation". www.crf-usa.org. Retrieved 2018-08-07.
  4. ^ "Southwest Michigan First Life Science Fund formalizes management ties with Open Prairie Ventures". MLive.com. Retrieved 2018-08-07.
  5. ^ Bennett, Jeff (July 28, 2008). "Class act: Kalamazoo's lesson: Educate and they will come". The Wall Street Journal.
  6. ^ Salter, Chuck (December 20, 2007). "Kalamazoo – Michigan". Fast Company. Retrieved 2020-05-24.
  7. ^ 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

[edit]
  • Kitchens, Ron; Gross, Daniel; Smith, Heather (2008). Community Capitalism: Lessons from Kalamazoo and Beyond. Bloomington, IN: AuthorHouse. ISBN 9781434381729. OCLC 232300129.
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