Elm Street Economy

DEFINITION of 'Elm Street Economy'

The Elm Street economy is a contemporary economic movement that encourages self-sufficiency on a regional, city-wide or neighborhood-wide basis. The movement rejects globalization and promotes many alternative ideas instead, including renewable energy, decreasing personal consumption, and the use of alternative means of exchange, such as bartering.


The Elm Street economy postulates that an increasingly complex and globalized economy is inherently unstable, and that greater economic security and well-being can be achieved through eliminating economic dependence on others outside of a local community.

BREAKING DOWN 'Elm Street Economy'

The term Elm Street is derived as an alternative to the usual Main Street/Wall Street economic dichotomy. Elm Street is meant to symbolize an economy focused on the residential neighborhood as an economic unit. This is in contrast to Main Street, which (as used by Elm Street promoters) is meant to symbolize large corporate interests, and Wall Street which symbolizes global finance. It is unclear how prevalent the Elm Street economy is currently in use as a total system. Rather, the movement is perhaps best understood as a patchwork of the Green movement, urban homesteading, buy local initiatives and the new frugality movement.

RELATED TERMS
  1. Main Street

    A colloquial term used to refer to individual investors, employees ...
  2. Bay Street

    A street in Toronto, Canada that is home to several major banks, ...
  3. Wall Street

    1. A street in lower Manhattan that is the original home of the ...
  4. Economy

    Economy is the large set of inter-related economic production ...
  5. High Street Bank

    A term originating in the U.K. to refer to large retail banks ...
  6. Street Book

    A daily account of futures commission merchants and clearing ...
Related Articles
  1. Retirement

    The 5 Best Retirement Communities in Charleston, South Carolina

    Learn about five of the most desirable retirement communities for seniors that are located in and around Charleston, South Carolina.
  2. Personal Finance

    Presidential Candidates And Wall Street In 2016

    Wall Street's influence will play a large role in the 2016 presidential race. As election season begins, candidates are showing their true colors.
  3. Professionals

    How To Get A Job On Wall Street

    Although Wall Street has its share of problems, finding people who want to become traders isn’t one of them.
  4. Markets

    Which Countries Will Drive Global Growth in 2016?

    Given the volatility that has already shaken the global economy, the world's largest economies will be leaned on to stimulate growth in 2016
  5. Trading

    Choosing An Advisor: Wall Street Vs. Main Street

    A high-profile brand name alone won't meet your personal investing needs. This article will show you what else to look for.
  6. ETFs & Mutual Funds

    State Street Global Advisors: Investment Manager Highlight (STT)

    Read about the investment operations of State Street Global Advisors, an international investment giant with more than $2.2 trillion in assets under management (AUM).
  7. Managing Wealth

    Making It Big On Wall Street

    Read about some of the most glamorous Wall Street jobs and what it takes to land one.
  8. Markets

    Is This Dividend Stock A Value Or Value Trap?

    We can say that Fifth Street Finance has had a rough year, but there's a huge difference between an undervalued stock and a stock that's cheap for a reason
  9. Insights

    The Top 5 Growth Equity Managers in the Mid-West for 2016

    Learn about growth equity firms in the Midwest, along with the growth of private funding firms and managers due to the technology boom.
  10. Investing

    This Retailer Could Be The Perfect Income Pick

    Part of investing is taking advantage of temporary opportunities while they last. For the past several years, corporations have been able to issue debt at super-low rates to fund share buybacks, ...
RELATED FAQS
  1. What does the saying "What's good for Wall Street is bad for Main Street" mean?

    Let's start by defining the terms "Wall Street" and "Main Street". Wall Street, in its broadest sense, refers to the financial ... Read Answer >>
  2. What are some examples of barter transactions?

    Learn how bartering involves the provision of goods or services in exchange for other goods or services, and review different ... Read Answer >>
  3. What is the difference between barter and currency systems?

    Learn the difference between barter and currency systems in the trade of goods and services. Why is currency preferred over ... Read Answer >>
  4. Why is the Ease Of Movement Indicator important for traders and analysts?

    Read more about the ease of movement indicator, a technical momentum oscillator created by Richard Arms to track price changes ... Read Answer >>
  5. Are barter transactions taxable?

    Learn what a barter transaction is, how the IRS requires businesses to report barter exchanges and tax implications of barter ... Read Answer >>
  6. Where does the name "Wall Street" come from?

    As with many of the famous streets and roads in the world, Wall Street's origins have historical significance. Its name is ... Read Answer >>
Hot Definitions
  1. Diversification

    A risk management technique that mixes a wide variety of investments within a portfolio. The rationale behind this technique ...
  2. European Union - EU

    A group of European countries that participates in the world economy as one economic unit and operates under one official ...
  3. Sell-Off

    The rapid selling of securities, such as stocks, bonds and commodities. The increase in supply leads to a decline in the ...
  4. Brazil, Russia, India And China - BRIC

    An acronym for the economies of Brazil, Russia, India and China combined. It has been speculated that by 2050 these four ...
  5. Brexit

    The Brexit, an abbreviation of "British exit" that mirrors the term Grexit, refers to the possibility of Britain's withdrawal ...
  6. Underweight

    1. A situation where a portfolio does not hold a sufficient amount of a particular security when compared to the security's ...
Trading Center