Social economy is a more classical concept that was created in the XIX century as a response against the arising capitalism.

Basically it gives priority to the people upon the capital, and stands for the democratic management within an enterprise (meaning that every worker has a voice in the decision-making process) and the sustainable development in respect with the natural resources. Within Social economy, three different entities were included: the cooperatives, the mutual associations, and the foundations, and they were-and still are-being developed in between the public and the private sector.