ABSTRACT
This chapter explains the position and role of communities and social groups as resource agents in the economy. The economic wellbeing of communities/social groups refers to their command over community/group-level resources, relations, performance goals and satisfaction thereof. Communities and social groups show different degrees of self-organization and effectiveness. Communities and social groups have intrinsic and extrinsic value to individuals, households and firms. By issuing rules and regulations, communities and social groups manage membership, organize joint activities and decision making within the group. The chapter focuses on modelling the relationship between voluntary work and community economic wellbeing. Communities and social groups are important loci where voluntary work, social and professional networking and advocacy takes place. The importance of voluntary work to the microeconomy is often underestimated. It is important to recognize women's and men's involvement in voluntary work, and the voluntary goods and services produced by it to better understand their role, decision making and contributions in the economy at large.
