The Quest for Social and Solidarity Economy in Greece: Case Study of the Exchange Network and Solidarity Magnesia

Abstract: In crisis-hit Greece, there have been an unprecedented rise of grassroots self-help initiatives for the last three to four years, and the whole phenomenon has come to be known as the quest for social and solidarity economy. With the consolidation of political and economic power in today’s capitalist market economy, the social and solidarity movement in Greece has been seeking for a way forward to bring these powers back to ordinary people under the ideological principles of solidarity and direct democracy. Among various initiatives, this study highlights an alternative exchange network (LETS) born in the Greek port city of Volos, aiming to investigate whether the Greek context of social and solidarity economy is only a temporary remedy for the crisis or a more long-term transition to an alternative lifestyle.