social economy
The social economy refers to a sector of the economy that prioritizes social impact alongside traditional financial profit. It includes organizations like cooperatives, nonprofits, and social enterprises that aim to address social issues, support community well-being, and promote sustainable practices. Unlike for-profit businesses that focus mainly on maximizing profits for shareholders, social economy entities reinvest earnings to further their social goals, such as improving education, protecting the environment, or enhancing local livelihoods. This approach helps create inclusive economic development that benefits society as a whole.
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The social economy refers to a sector of the economy that prioritizes social objectives alongside economic ones. It includes organizations such as cooperatives, nonprofits, and social enterprises that aim to benefit society, support community development, and address social issues. Unlike traditional businesses that focus mainly on profit, the social economy emphasizes fair treatment, environmental sustainability, and improving the quality of life for people. Essentially, it combines economic activity with a commitment to social good, fostering a more equitable and inclusive society while still being financially viable.