Local Dollars, Local Sense
Local Dollars, Local Sense
How to Shift Your Money from Wall Street to Main Street and Achieve Real Prosperity
Chelsea Green Publishing Company, Paperback, 9781603583435, 288pp.
Publication Date: February 20, 2012
Local Dollars, Local Sense is a guide to creating Community Resilience.
Americans' long-term savings in stocks, bonds, mutual funds, pension funds, and life insurance funds total about $30 trillion. But not even 1 percent of these savings touch local small business-even though roughly half the jobs and the output in the private economy come from them. So, how can people increasingly concerned with the poor returns from Wall Street and the devastating impact of global companies on their communities invest in Main Street?
In Local Dollars, Local Sense, local economy pioneer Michael Shuman shows investors, including the nearly 99% who are unaccredited, how to put their money into building local businesses and resilient regional economies-and profit in the process. A revolutionary toolbox for social change, written with compelling personal stories, the book delivers the most thorough overview available of local investment options, explains the obstacles, and profiles investors who have paved the way. Shuman demystifies the growing realm of local investment choices-from institutional lending to investment clubs and networks, local investment funds, community ownership, direct public offerings, local stock exchanges, crowdfunding, and more. He also guides readers through the lucrative opportunities to invest locally in their homes, energy efficiency, and themselves.
A rich resource for both investors and the entrepreneurs they want to support, Local Dollars, Local Sense eloquently shows how to truly protect your financial future--and your community's.
He s a fellow at Cutting Edge Capital and Post Carbon Institute and a founding board member of the Business Alliance for Local Living Economies (BALLE). He teaches economic development at Simon Fraser University in Vancouver. He has authored or coauthored nine books, including Local Dollars, Local Sense The Small Mart Revolution and Going Local. Shuman has performed leakage analyses and related economic development planning in more than ten states and has analyzed opportunities for food localization for several states, cities, counties, and regions across the nation. He has given an average of more than one invited talk per week, mostly to local governments and universities, for thirty years in fortyseven states and eight countries. He has appeared on numerous television and radio shows, such as the The NewsHour with Jim Lehrer and NPR's Talk of the Nation and All Things Considered, and has written nearly one hundred articles for such periodicals as The New York Times, The Washington Post, The Nation, The Weekly Standard, Foreign Policy, Parade Magazine, and The Chronicle of Philanthropy. Previously, he has been a W.K. Kellogg National Leadership fellow. He is also a member of both the State Bar of California and the District of Columbia Bar, and he lives in Silver Spring, Maryland, with his two children.
Michael Shuman is research director for Cutting Edge Capital in Oakland, economic-development director for the Business Alliance for Local Living Economies (BALLE), and a fellow of the Post Carbon Institute. An economist, attorney, author, and entrepreneur, Shuman has previously authored, coauthored, or edited seven books, including "The Small-Mart Revolution" (which won a bronze prize from the Independent Publishers Association for best business book of 2006) and "Going Local" (1998). He has led community-based economic-development and local-food initiatives across the country. He has given an average of more than one invited talk per week for twenty-five years throughout the world and has written nearly 100 published articles for publications such as the "The New York Times, The Washington Post, The Nation, The Weekly Standard, Foreign Policy, Parade", and "The Chronicle of Philanthropy". He lives in Silver Springs, Maryland.