Anna White of Share the World’s Resources explains, referring to the work of Localise West Midland’s co-founder, Colin Hines.

Some of the points made  [examples modified for UK readership] 

Around the world, there is a growing movement to pull back from the relentless march of corporate globalization by re-rooting economic and social activities at the community level. 

In many ways, including setting up farmers’ markets, box schemes, community supported agriculture, credit unions and – in USA – the revitalization of community banking, people are reclaiming the economy from large profit-driven corporations and building sustainable, local alternatives. 

A broad definition of localization – this trend towards small-scale, community-oriented businesses – is defined in Localization: A Global Manifesto, by Colin Hines as “a process which reverses the trend of globalization by discriminating in favour of the local”. 

This does not mean “walling off the outside world” or creating self-sufficient groups cutting themselves off from the monetary economy. International trade, travel and cultural exchange would continue, but locally-controlled, diversified economic activity would be reoriented towards meeting the needs of the community first. 

You can read the article here.  It was first seen in the ISEC’s Local Futures website.