Shaped by globalization, societies are undergoing important changes. As a consequence, new practices have emerged and new importance is accorded to local economies. The notion of a social economy was a practical response to the impact of globalizaton on local economies. Social economies were also meant to help any negative impact resulting from the downloading by governments of their economy's responsibilities. Various community economic development corporations were put into place as a result of these new trends. Have these new local corporations helped in alleviating the negative impact of t