Social Economy in Europe Today

The social economy is a sector that lies between the private and business sector and the public and government sector. This designated sphere consists primarily of nongovernmental organizations, charities, and nonprofit cooperatives. The concept was conceived to encompass the range of the community that is voluntary work or geared to benefit society as a whole. Sometimes this social economy includes another sector referred to as the "informal sector" where casual interactions and relationships are included. The social economy is a hugely fundamental aspect of daily European life. The culture in continental Europe is such that communities cooperate for the overall benefit of the society.

This sector, the social economy, is often then broken down into three components or sub sectors: the community sector, voluntary sector and the social enterprise sector. This is a large aspect of European societies and how communities operate. The first community, typically, consists of small, voluntary, local efforts. The second is the voluntary sector, which includes more formal organizations that can even exist on a national scale. They are still not-for-profit foundations and require a greater degree of volunteer involvement. The final subsection, social enterprise is often considered being unique to European societies. It is a sector that includes organizations that are businesses geared toward achieving social objectives. The benefits of the company are to better the community rather than to maximize profits for owners and shareholders.

These elements of European society have largely come into play because of a need to find innovative solutions to a number of social, economic and environmental issues. They are often intended to help those who are not adequately suited to help themselves or to fill a void that has been left by both the private and public sectors. Through the implementation and increasing influence of the social economy in Europe, the culture has become one of inclusion and mutual support rather than one of self interest. A strong sense of sustainability and prosperity is sweeping the continent, replacing the desolate war torn era of just a generation before.

Contrary to foreign beliefs, the social economy is working wonders for productivity and wealth accumulation, of European nations. Although, there is an attitude of mutual support, the system is far from communistic. The policies and practices set forth by this sector of the social sphere actually works to drive competition. However, it is not competition for personal advancement. Rather, it is the guarantee of lasting and widespread safety and security. It encourages individuals to work together for wealth creation and take advantage of cooperation and the power of organization. It certainly encourages active citizenship and allows for a richer community founded on cooperation rather than strict competition.

The social economy in Europe is proving to be, overall an incredibly successful enterprise. Since the concept became a popular mantra, many communities have found a functional method, to fill needs that were previously neglected. These needs were neglected both by corporations and national governments.