We reassess the research on the impact of climate change on society and propose examining the social dimensions of climate change from a perspective of community well-being. We argue that to better understand community dynamics in the Arctic, it is helpful to shift the research focus from the environment and view the environment and climate change as a backdrop to social phenomena. Specifically, we consider the increasing living standards and expanding basic needs that fall under consumption, one of the three domains of economic activity. This represents a shift from the conventional anthropological perspective, which focuses solely on production (food procurement, subsistence) and distribution, to a more balanced consideration of the three economic domains and their intricate relations. This shift also involves moving away from the conventional anthropological theory, which posits that the relationship to the environment influences, organizes, and shapes people's lives, to the reverse: people's increasing needs reshape, rearrange, or alter the human–environment relationship. The perspective of community well-being considers the interplay between the environment, social (local assets), and economic domains (consumption and increasing needs) of community dynamics. To illustrate this perspective in Arctic studies, we draw on two examples from our experience in Greenland: sheep farming in South Greenland and Greenland halibut fisheries in North Greenland.