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Local Economy Action Plan 2008
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Transcript of Local Economy Action Plan 2008
Local Matters 2008
MissionVision
StrategiesObjectives
To build and maintain a sustainable, just, and efficient economy for the mutual benefit of our neighbors.
A healthy local living economy of the people, for the people and by the people.
Open Source, Group Collaboration, Systems Thinking, Financial Engineering and Whole Systems Design
Creating wealth in our community by:• Aligning incentives• Promoting local ownership• Building relationships• Increasing the flow of information
TOOLS
Business Associations
Local/Sound Currency
Community Ownership/Cooperative
businesses
Slow Food/CSA/Sustainable Agriculture
Land Trusts & Real Estate Cooperatives
Circles/Neighborhood Stock
Corporations/Exchanges
Community Databank
Bring it All Together
Vocabulary & Framework
1. This is OUR vision, not THE vision.
2. If you hear a term you don’t understand – ask now.
3. If you hear an idea you don’t agree with – listen with
open ears.
4. If part of what you hear is compelling – hold on to it.
5. If part of what you hear is in conflict with your
principals – adapt the idea to your principals.
A WORD BEFORE WE START
SovereignOne that exercises supreme, permanent authority, especially in a nation
or other governmental unit, as:
1. A king, queen, or other noble person who serves as chief of state; a ruler or monarch.
2. A national governing council or committee.
BUSINESS ASSOCIATIONS“A currency is only as strong as the confidence that people have in
one another to produce something of value.”Robert Swann and Susan Witt, February 1995 Local Currencies: Catalysts for Sustainable Regional Economies. E.F.
Schumacher website: Retrieved Dec 17, 2008
US
YOU
YOU
YOU
YOUYOU
YOU
YOU
Features
100% Voluntary Participation
Does not violate autonomy
Does not risk proprietary/personal information
Exclusively by and for LOCAL businesses
Small (neighborhood) scale builds trust and
relationships
BenefitsFor Producers
• Economies of Scale• Purchasing Power• Manage Redundancy• Supply Chain Integration• Performance Feedback• Customer Loyalty• Improved Profitability• Competitive Pricing• Join Marketing/Branding• Build Social/Financial Capital
For Consumers
• Easily Identify Local Firms• Improved Pricing• Relevant Goods & Services• Better Jobs• Higher Incomes• Reputation Networking• Enhanced Real Estate
Values• Reduced Travel
“An opportunity for producers and consumers to sit down at the table and figure out how they can help one another.”-R. Steiner
Possible Outcomes
Local Business Directory & Maps
Coupons, Gift Certificates, Currency
Redeemable at Participating Firms
Joint Ad Campaigns
Rating/Review System
Online Store/Catalog
Examples
Business Alliance for Local Living Economies (BALLE) www.livingeconomies.org
American Independent Business Alliance (AIBA) www.amiba.net
Greater Syracuse: Chamber of Commerce www.syracusechamber.com
Collingswood, NJ: Chamber of Commerce www.collingswood.com
What Is Currency?
cur⋅ren⋅cy–noun, plural -cies.1. something that is used as a medium of exchange; money.2. general acceptance; prevalence; vogue.3. a time or period during which something is widely accepted
and circulated.4. the fact or quality of being widely accepted and circulated from
person to person.5. circulation, as of coin.currency. (n.d.). Dictionary.com Unabridged (v 1.1). Retrieved December 18,
2008, from Dictionary.com website: http://dictionary.reference.com/browse/currency
Principles of Local Currency
Represent a relationship between two people, a storing of value, or a medium of exchange
Currency has an inherent advantage over goods in that it isn’t perishable; this affects the distribution of wealth (R. Steiner)
Can be backed by hours, dollars, precious metals, goods, promises – or anything people will put faith in
Various currencies have been developed to address economic issues specific to an area and/or community
Types of Targeted Currencies Community –…supporting trade within a group of like-minded people… Local – …support a small town or a neighborhood within a large city. ..punctuated by the strength of
physical interaction and the chance … [to] cement communal bonds...these currencies can support ‘buy local’ programs that provide leverage against … big-box retailers.
Incentive / Loyalty – …often used by businesses to support return business and are issued based on buying activity.
Reputation – …non-tradeable currencies reflect a person’s standing within a particular community...popular in large online communities like eBay, where there is a combination of interactions with near-strangers and some type of risk... These currencies incent good behavior and reduce the free-rider problem,…your actions (positive and negative) will be recorded.
Social Justice – used to right a particular social wrong. In the case of food stamps, they allow less fortunate people to afford food. Time-Dollars release latent skills in a community and incent members to exchange those skills, providing self-sufficiency in communities ...
Economic Development – These currencies are built to improve the flow of national currencies, often within a geographic region defined by a city, county, multi-county region or other large trading area. They are often (but not always) built in partnership with municipal or state governments, or multi-regions jurisdictions and councils of governments.
With Edits - Targeted currencies network, 2005. Retrieved from http://targetedcurrencies.net/moreabouttargetedcurrencies on Dec 17, 2008
Who’s Got Your Back?Asset-backed/Hard Currency
Fiat/Soft Currency Backed by a tangible
tradable item for which the currency can be exchanged
Issuance is constrained by scarcity/effort
Reflects past productivity
Value is inherent
Is backed by a promise or threat
Issuance is potentially unlimited
Reflect future productivity
Value is tenuous, especially over long time periods
Examples Berkshares Colls Cash Ithaca Hours Totnes Pound Chamber Bucks Burlington Bread More:
http://www.smallisbeautiful.org/local_currencies/currency_groups.html
Colls Cash
“The campaign is designed to boost sales in the Borough and to increase support of local businesses while offering shoppers a big discount on everything in town…Several phase one customers mentioned they will buy holiday gifts, get orthodontics, remodel, dine out and buy more in Collingswood because they will be receiving such a discount.”
Cooperative Businesses Cooperative Federal CU South Side Food Coop
Examples
Jubilee Homes Forest Row (Berkshires) Land Trust Indian Line Farm (Berkshires) (1st CSA
in USA) Champlain Housing Trust (Burlington
VT)
Investment Circles
Westcott Series 1 Circle 1 Can we buy stock in a local organic
farm? Can we make money on it?
Taking the Community Public Overlaying a new social order on existing laws and customs
Using Wall Streets tools for communities
The Solari Stock Corporation
The A/B Share Model
Permanent local control
Creating local investment opportunities
Establishing the needed flow of information
Total Economic Return (TER)
What Are YOUR Criteria for Investment Return? Creates Jobs
Is Beautiful Presents a Business
Opportunity Generates Income Heals People Heals the Earth Helps Children Has no waste Turns waste to energy Adapts Reports performance Processes feedback
% Market Share Total Market $ Net Profit Margin Raises Local
Multiplier Reduces Local
Leakage Offsets Govt
Spending Offsets Charitable
Giving Jobs Substituted Competitive
Displacement
Lowers Barriers Creates Liquidity Improves Learning
Speed Economies of Scale Performance
Feedback Popsicle Index Factor … … … … …
Together They Re-Write the Rules Dudley Steet Iniative
Financial Permaculture Associative Economies (R. Steiner)
Transition Towns http://www.transitiontowns.org/
Mondragon Solari Inc.