This study is part of the Sustainable Development in the 21st Century (SD21) project. The project is implemented by the Division for Sustainable Development of the United Nations Department of Economic and Social Affairs, contract number 20465. Support from the European Commission is gratefully acknowledged. This publication has been produced with the assistance of the European Union. The contents of this publication are the sole responsibility of the United Nations Department of Economic and Social Affairs and can in no way be taken to reflect the views of the European Union. We thank David Le Blanc, project officer, for guidance and extremely useful feedback on earlier versions of this report. We also thank Ron Coleman and Thomas Prugh for editorial assistance. The ideas in this report have been published elsewhere by the authors and several sections are taken almost verbatim from these prior publications. Parts of the executive summary were crafted in direct discussions and consultations with the Royal Government of Bhutan in preparation of its draft outcome statement for its high-level meeting at the United Nations on 2nd April, 2012. The co-authors all agree on the general concepts and ideas but do not necessarily completely endorse every specific argument. This report is a synthesis and compendium.

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The destabilizing forces wrought by economic globalization increasingly buffet local communities throughout America. This article explores a local policy strategy for coping with the effects of these forces and restoring some degree of stability to local economies. This strategy entails the creation of place-based ownership models of economic enterprise. With ownership and control held in a more collective or community-oriented fashion, such enterprises tend to anchor or root investment more securely in communities, providing a counterforce to globalization. We present and critically assess six place-based ownership models while providing illustrative examples to demonstrate how each model can work in practice.

Cover images:(Left Top) by Eric Rasmussen/InSTEDD. Virgin rainforest north of Balikpapan near the eastern coast of Borneo has been clear-cut to allow for the continued planting of millions of acacia trees for pulp products and plywood.

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