📚 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

Infographic: The Preston Model

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
⥱ context