I state caution because these are big ideas with big decisions and those decisions should never be taken lightly. I would think a business plan should be in place long before anyone tinkers with the idea of moving personal monies around.
Local Dollars, Local Sense (click here)
Michael Shuman
February 2012
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?...
Don't forget that number. $30 Trillion is a lot of money. That is what the INVESTMENTS of many, many Middle Class people have as nest eggs.
The entire title of the book is this:
The entire title of the book is this:
"Local Dollars, Local Sense: How to Shift Your Money from Wall Street to Main Street and Achieve Real Prosperity--A Community Resilience Guide"
I haven't gotten through this book yet, but, anyone that regularly visits this blog knows I advocate for local economies in every way to secure the USA from such economic hardships such as the Great Depression and the Great Recession / Depression of 2008. If nothing else, I like very much the idea of a community based plan for entrepreneurs willing to build economies.
I am going to hear him speak. I hope he has insight for everyone attending. It is a members only event and that should present a 'clue' as to how to begin such ideas.
I think of this type of initiative as revitalizing local American economies. Local cities and counties could easily harness this movement and return people to work with advanced planning. I would expect a cooperative of people, if you will, to seek the interest of their local governments to facilitate their ambitions; not through monies necessarily, but, through effective zoning placing upstart enterprises in optimal locations for their success.
I would also expect anyone or any group of people coming together to carry out increases in local economies by starting new businesses to be involved with management at the very least and 'sweat equity' during hours or days in employee and customer interaction. So this is not a passive investment. I suppose it could be, but, I would not recommend that; at least until the economic opportunity was running well and practically by itself. I think owners should be involved with local economies and not passive investors that lose contact and influence as the economy grows only to be outsourced again. Follow?
I would also expect these ventures could take on substantial local manufacturing making televisions, refrigerators, washing machines, dryers, etc. I would expect unions to be welcome with the idea they would help build expertise in educating their employees to assist the company to grow. I would expect the union to understand and advocate for the employees. I would also expect unions to be open to the possibility of deferring some union dues to stock options in the company with active interests in its success.
This is not a dreamscape. It is possible and can be profitable. So, this book and the author's interest in speaking to small groups of people at the local level is more than interesting to me. He is putting 'sweat equity' into the advancement of success of his book, but, also the message he is advocating. I like that.
