We have seen what social businesses aim at, but what is a solidarity based economy all about?
Its characteristics are to follow these 7 principles:
Human before profit – increased quality of life
Part of the social economy
It aims to put right an injustice by expressing solidarity
Local exchange trading systems
Solidarity lending
Ethical purchasing
Economy of the common good
Types of solidarity based economies
Fair trade – solidarity with farmers in the developing world by paying them fair prices for their products
Self-help – members support each other in dealing with their problems
Social centres
Co-operatives – if include a commitment to solidarity
Trade unions – solidarity between workers
Free software movement, commons-based peer production and open source development
Give-away shops (gift economy)
Corporate social responsibility (CSR) - a business monitors and ensures its active compliance with the spirit of the law, ethical standards and national or international norms; lately, a lot of companies are getting involved in social projects where their employees can volunteer