This article wants to clarify the main elements that constitute the Transformative Local Development approach. This is a proposal that has emerged strongly on the agendas of some policy makers and transforming social and community agents as a result of the structural crisis that has worsened since 2008. However, due to its novel and heterodox nature, it is not sufficiently developed at a theoretical level. To this end, this article makes a critical reading of the dynamics of capital at the spatial level and the politics of scale. In this way, it tries to justify how the territories can become relevant actors, for both, for neoliberal globalization, and for the construction of alternatives. After this analysis, the article collects the main elements of the theoretical frameworks of local development and the Social and Solidarity Economy. Since, both constitute the main sources of the Transformative Local Development proposal. Finally, the main elements of this proposal have been deepened.