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Some Key Terms

Changes!

way. Often CED initiatives are implemented to overcome crises, and increase
opportunities for communities who are disadvantaged. An aspect of "localizing

economics," CED is a community-centered process that blends social and economic
development to foster the economic, social, ecological and cultural well-being of

communities. For example, neighborhood business organizations target growth in
specific commercial areas by lobbying government authorities for special tax rates and
real estate developments.

Community economic development is an alternative to conventional economic
development. Its central tenet is that: "... problems facing communities--unemployment,
poverty, job loss, environmental degradation and loss of community control--need to be

addressed in a holistic and participatory way

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Looking at CED from an economic viewpoint, the initial purpose of such an approach is

the creation of local jobs and the stimulation of business activity. Integrally linked to
these purposes are strategies to increase access to capital, stimulate asset building,

improve the general business climate, and link citywide economic development efforts to
specific community development efforts.

Increasing access to capital is an extremely important strategy for community economic

development. Historically, residents in poor neighborhoods have experienced great
difficulty finding access to capital because they are traditionally viewed as credit risks. In
places where banks do offer services, these residents face other structural barriers such

as minimum deposit requirements, high service fees, and complex paperwork. To solve
these problems, a community economic development approach would develop alternate

neighborhood community development financial institutions such as community
development credit unions, community development banks, and community
development venture capital funds

"Community Economic Development."
Wikipedia
Communitarianism 11

Communitarianism is a philosophy that emphasizes the connection between the
individual and the community. Its overriding philosophy is based upon the belief that a

person's social identity and personality are largely molded by community relationships,
with a smaller degree of development being placed on individualism.