A solidarity economy can be defined as a movement that builds a post-capitalist world globally that ensures that people and planet are centered rather than indulging in maximization of profit and growth. It is a framework that has a range of economic practice that goes hand in hand with values associated with it. I.e., race equity, solidarity, gender and class, pluralism, and sustainability. This portrays that it is not a one-size-fits-all approach.
It is prudent to list out some essential facts of the solidarity economy in line to the above introduction solidarity economy relies heavily on the people and the community. Below are facts that you should be aware of about solidarity economy.
.The processes that are carried out making use of the available resources so that the social needs are fulfilled instead of what the market dictates.
.One should be aware of the value of labor and be able to look for the possible ways of maximizing preservation and utilization.
·Solidarity economy has placed focus on cooperation and self-sufficiency rather than concentrating on dependence.
·Resources are prudently used based on that time needs rather than consuming excessively.
· The systems and all other management strategies of solidarity economy are based on different democratic processes like, for instance, participation and cooperation rather than on decisions and control processes.
· In solidarity economy, ethical principles and values are vital in developing models.
· Solidarity economy aims at ensuring there is the sustenance of the language, culture, and also community customs.
If we put a close look at the above elements, we will note that the solidarity economy is trying to provide us with favorable neo-liberal globalization alternatives in social, ethical, cultural, political and ecological dimensions. All these alternatives bring back a mutual relationship that solidarity economy shares out with different people, capital, resources, nature, and the way it maintains their fragile balance.