Ekonomini

Ekonomini is a term used in theoretical discussions of economic organization to describe a framework that integrates economic activity with democratic governance, social equity, and ecological sustainability. The concept emphasizes local embeddedness, participatory decision-making, and the stewardship of shared resources. It is presented as an alternative to purely market-driven or centralized models, proposing mixed institutional arrangements where communities, cooperatives, and public bodies collaborate to steer resources toward long-term well-being rather than short-term profits.

Etymology and usage vary, but ekonomini is commonly described as a neologism built from roots related to economy and governance, signaling a field of study or practice focused on inclusive, sustainable economic life. Since the early 2010s it has appeared in academic articles, policy papers, and debates about how to redesign economies to address inequality, climate change, and social care needs, though it remains a contested and non-central concept in mainstream economics.

Core principles of ekonomini include participatory governance of resources, equitable distribution of benefits, the circulation of wealth within local networks, resilience to shocks, and adherence to ecological limits. Institutional forms frequently discussed in relation to ekonomini encompass worker cooperatives, community land trusts, reform of public procurement, participatory budgeting, local currencies, and community energy projects. Critics point to concerns about scalability, potential governance costs, measurement challenges, and the risk of localism overshadowing broader coordination.

See also: commons, participatory budgeting, social economy, degrowth, circular economy.