📕 subnode [[@neil/the preston model]]
in 📚 node [[the-preston-model]]
The Preston Model
[[Community wealth building]].
A form of [[municipal socialism]].
What is it?
Community wealth building utilises:
- anchor institutions
- living wage expansion
- community banking
- public pension investment
- worker ownership
- municipal enterprise tied to a procurement strategy at the municipal level.
(via Community wealth building - Wikipedia)
a holistic framework for integrating community, cooperative, and public assets into a mutually supporting system of local economic prosperity
An attempted transition to [[localism]] and [[cooperativism]] inspired by Cleveland in the US and [[Mondragon]].
[[Anchor institutions]] are big part of it. For example, council, university, hospital, investing in the local area.
Outcomes/Benefits
It is estimated that the Preston model has added £200 million to the city’s economy while significantly reducing unemployment.
– [[Can municipal socialism be Labour’s defence against ongoing austerity?]]
Resources
📖 stoas
- public document at doc.anagora.org/the-preston-model
- video call at meet.jit.si/the-preston-model