Chelsea Green Publishing

Local Dollars, Local Sense

Pages:288 pages
Size: 6 x 9 inch
Publisher:Chelsea Green Publishing
Paperback: 9781603583435
Pub. Date February 20, 2012
eBook: 9781603583442
Pub. Date February 20, 2012

Local Dollars, Local Sense

How to Shift Your Money from Wall Street to Main Street and Achieve Real Prosperity

By Michael Shuman
Foreword by Peter Buffett

Availability: In Stock

Paperback

Available Date:
February 20, 2012

$17.95 $11.67

Availability: In Stock

eBook

Available Date:
February 20, 2012

$17.95 $11.67

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.

REVIEWS AND PRAISE

"Local small businesses employ more people and respond to community needs better than big corporations do-but nearly all our investment dollars support Wall Street banks and huge companies. The path to local investing has been strewn with obstacles. Michael Shuman clears a path for us all, showing how local investing can help solve some of America's biggest social, economic, environmental, and political problems. This is a book many of us have been waiting for."--Richard Heinberg, author of The End of Growth and Peak Everything

"Changing the direction our money flows in away from the tax havens and the banks and toward the urgent rebuilding of community resilience at the local scale is one of our most pressing and urgent tasks. Michael Shuman inspires and equips us for this work with great vision and purpose."--Rob Hopkins, author of The Transition Companion and cofounder of the Transition Network

"Prepare to rethink everything you've learned about investing! In this tour de force, Michael Shuman provides an eye-opening look at how local companies can trump market returns, and how legalized crowdfunding might do more for job creation than the failed policies of throwing taxpayer money at big corporations. The book abounds with examples of community investment that are helping to rebuild local economies, and provides a tantalizing glimpse of life beyond corporate capitalism."--Amy Cortese, author, Locavesting: The Revolution in Local Investing and How to Profit From It

"Want something that makes sense amid the increasingly crazy world of global finance? Going local is it and Michael Shuman has been at the forefront of this cutting-edge thinking for more than a decade. He not only maps the emerging process of economic localization, but also gets down to the nitty gritty: the investment strategies and the financial practitioners who are making it real."--Woody Tasch, chairman, Slow Money; chairman emeritus, Investor's Circle; and author of Inquiries into the Nature of Slow Money

"There is no task more urgent facing this country than rebuilding local economies, and Michael Shuman knows this inside and out. This book should be required reading for Americans."--James Howard Kunstler, author of The Long Emergency and other books

"This long-awaited book is a masterpiece and a field guide to a much-needed journey into creating the kind of economy our children will be happy to inherit. Future generations will praise Local Dollars, Local Sense as one of those seminal works that helped transform human societies."--John Perkins, author of Confessions of an Economic Hitman and Hoodwinked

"Local is the new green, because local encompasses the wholeness of real places - nature and people and the complex web of relationships among them. Living on an island, I have a special appreciation for local resilience. I know my community is my real security. My bank. The financial system makes it easy to invest in distant corporations and difficult to invest in our own neighbor's start-ups and business expansion. Enter Michael Shuman and this wonderful book, Local Dollars, Local Sense. He outlines many practical innovations that can flow money back into the productivity and prosperity of the places we call home. With the growing interest in moving our money out of Wall Street and into Main Street, Michael's book provides a very welcome roadmap for local investing.--Vicki Robin, author of Your Money or Your Life

"Michael Shuman answers a lot of questions I've always wondered about, and in the process paints a practical vision of exactly where we need to be headed in this country. Consider this book an excellent investment!"--Bill McKibben, author of Eaarth and The End of Nature

"Michael Shuman has done it again. In Local Dollars, Local Sense, he answers the central question of the era: How does capital get invested? Whether you are concerned with job creation, environmental destruction, immigration, public health or education, this book will not only tell you why things are going wrong, it will tell you how we can make things right."--Kevin Danaher, cofounder, Global Exchange and Green Festivals

"Brilliant and perfectly timed, Local Dollars, Local Sense enables us to transform worry and confusion about our personal finances, and the nation's, into rewarding action. Shuman shows us-in part with compelling stories-how investment choices are really exciting sources of power to achieve peace of mind for our families as we create thriving, democratic communities. I love this ground-breaking, liberating book!"--Frances Moore Lappé, author of EcoMind: Changing the Way We Think, to Create the World We Want

"In an important and path-breaking work, Michael Shuman shows clearly and persuasively how to transform our nation's financial system from a destructive engine for increasing economic inequality into a positive force for creating human well-being and community resilience. The cry today is for new laws and regulations to instill greater accountability and integrity in existing national and global financial markets. Shuman calls, instead, for legislative reforms that shift savings away from those growth-oriented and life-destroying markets to new local financial markets that serve life-enhancing, place-based community enterprise. Local Dollars, Local Sense: How to Shift Your Money from Wall Street to Main Street and Achieve Real Prosperity must be required reading for every elected official in the country as well as all "experts" in finance and business from the academic and corporate worlds."--H. Thomas Johnson, professor of sustainability management, Portland State University, and author of Profit Beyond Measure

"How can we secure our personal finances while simultaneously helping to rebuild our communities? Read this book and find out. Michael Shuman's advice urgently needs to be heeded. Authoritative yet highly readable, Local Dollars, Local Sense illuminates the path toward a very different economy, providing practical advice that is more intensely relevant with every passing day."--Helena Norberg-Hodge, founder, International Society for Ecology and Culture; producer, The Economics of Happiness

"Where to invest your money in these uncertain times? Bring it home, advises Michael Shuman. But don't put it under the mattress! This smart and thoughtful book explains the many ways we can invest in our local economies to not only receive a more reliable return than the stock market casino can provide, but also to live in more self-reliant and joyful communities. Join the shift toward true prosperity. This book shows you how."--Judy Wicks, cofounder, Business Alliance for Local Living Economies

Publishers Weekly-
Economist and entrepreneur Shuman (The Small-Mart Revolution) provides a convincing argument that the general public should be allowed to invest in small businesses. Today, millions of Americans are reluctant to trust a rickety Wall Street with their retirement assets or savings for their kids' education, and instead, they're interested in investing locally, especially since small businesses are more profitable than larger corporations. However, less than one percent of Americans's long-term savings touches local small business, which means that Americans are systematically overinvesting in Wall Street and under-investing in Main Street. Shuman offers the average investor attractive alternatives that comply with securities laws, but allow for investing in neighborhood cooperatives, and more. In addition, he explores the challenges of securing institutional lending, and shares valuable insights about how local businesses have deployed creative investment strategies to avoid or reduce the costs of security law compliance, how local investors can pool together to diversify their risks, and how individuals can earn superior returns from investing in their own bank, home, and energy efficiency. Shuman's accessible book will help investors of all backgrounds take action.

Kirkus Reviews-
In an installment of the environmentally responsible publisher's Community Resilience Guide series, an astute economist weighs in on a hot-button issue: how to keep local dollars invested in local businesses. Shuman (The Small-Mart Revolution: How Local Businesses Are Beating the Global Competition, 2007, etc.) offers real-time suggestions for investing hard-earned American money back into community-based businesses. In the introduction, musician and philanthropist Peter Buffett restates the importance of a return to the "fundamental aspects of human nature" to reverse what he believes to be the nation's crippled socioeconomic structure. Shuman expands on Buffett's beliefs by citing America's broken investment system whereby money spent at local merchants becomes reinvested into large Wall Street corporations. He cites several "local-investment tools" as the building blocks in a plan to reallocate and redistribute capital back into communities that need it more than the "bandits of Wall Street." After an outline of weak retirement investment returns, a stagnant economy and the bleak outlook for future retirees, the author advances highly practical arguments in favor of supporting locally grown foodstuffs, community banking, autonomous cooperative organizations and the adoption of a sustainable mindset. Shuman sensibly lays out the groundwork for a revamped economic platform with profiles of many viable, "green" companies and nonprofit alliances alongside intensively researched facts about banks, securities and recession-proof purchasing strategies. As his thesis deepens, however, the material becomes more applicable for more seasoned, jargon-friendly economists. Still, those emerging with a modicum of head-scratching will find Shuman's galvanized eco-speak an intelligent voice in assigning a conscience to the process of how and where hard-earned dollars are spent. An impassioned, forward-thinking plea for economic reform at the grassroots level.

ABOUT THE AUTHOR

Michael Shuman

Michael H. Shuman is an economist, attorney, author, and entrepreneur, and a globally recognized expert on community economics. He is one of the architects of the crowdfunding JOBS Act signed into law by President Obama in April 2012.

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.

ALSO BY THIS AUTHOR

The Local Economy Solution

The Local Economy Solution

By Michael Shuman

Reinventing economic development as if small business mattered

In cities and towns across the nation, economic development is at a crossroads. A growing body of evidence has proven that its current cornerstone—incentives to attract and retain large, globally mobile businesses—is a dead end. Even those programs that focus on local business, through buy-local initiatives, for example, depend on ongoing support from government or philanthropy. The entire practice of economic development has become ineffective and unaffordable and is in need of a makeover.

The Local Economy Solution suggests an alternative approach in which states and cities nurture a new generation of enterprises that help local businesses launch and grow. These cutting-edge companies, which Shuman calls “pollinator businesses,” are creating jobs and the conditions for future economic growth, and doing so in self-financing ways.

Pollinator businesses are especially important to communities that are struggling to lift themselves up in a period of economic austerity, when municipal budgets are being slashed. They also promote locally owned businesses that increase local self-reliance and evince high labor and environmental standards.

The book includes nearly two dozen case studies of successful pollinator businesses—in the United States and abroad—that are creatively facilitating business and neighborhood improvements, entrepreneurship, local purchasing, local investing, and profitable business partnerships. Examples include Main Street Genome (which provides invaluable data to improve local business performance), Supportland (which is developing a powerful loyalty card for local businesses), and Fledge (a business accelerator that finances itself through royalty payments). It also shows how the right kinds of public policy can encourage the spread of pollinator businesses at virtually no cost.

Available in: Paperback, eBook

Read More

The Local Economy Solution

Michael Shuman

Paperback $19.95

Raising Dough

Raising Dough

By Elizabeth Ü

More and more entrepreneurs are using food-based businesses to solve social and environmental problems - and yet the majority of them report that a lack of access to capital prevents them from launching, maintaining, or growing their ventures. Raising Dough is an unprecedented guide to the full range of financing options available to support sustainable food businesses.

Raising Dough provides valuable insights into the world of finance, including:

  • Descriptions of various capital options, including traditional debt and equity, government grant and loan programs, and cutting-edge models such as crowdfunding and community-based alternatives
  • Guiding questions to help determine which capital options are the most appropriate given the size, stage, entity type, growth plans, mission, and values of an enterprise
  • Case studies and testimonials highlighting the experiences of food system entrepreneurs who have been there before, including both success stories and cautionary tales
  • Referrals to sources of capital, financiers, investor networks, and other financial resources.

Written primarily for people managing socially responsible food businesses, the resources and tips covered in this book will benefit social entrepreneurs - and their investors - working in any sector.

Available in: Paperback, eBook

Read More

Raising Dough

Elizabeth Ü, Michael Shuman

Paperback $19.95

AUTHOR VIDEOS

Michael Shuman Speaking Tour 2012

Michael Shuman Speaking Tour 2012

How Local Businesses Can Benefit from the Energy Crisis

How Local Businesses Can Benefit from the Energy Crisis

The Economics of Happiness

The Economics of Happiness

Michael Shuman - TEDxUVM

Michael Shuman - TEDxUVM

Rebuilding Communities: Local Economic Development

Rebuilding Communities: Local Economic Development

Michael Shuman Lecture: The Small-Mart Revolution

Michael Shuman Lecture: The Small-Mart Revolution

YOU MAY ALSO LIKE

Dreaming the Future

Dreaming the Future

By Kenny Ausubel

Few would deny that we are entering a period of great change. Our environment is collapsing. Social disruption abounds. All around, it seems, we are experiencing breakdown. But out of this chaos comes the opportunity for breakthrough-the opportunity to reimagine our future.

In Dreaming the Future, Kenny Ausubel leads us into that possible new world and introduces us to the thinkers and doers who are-sometimes quietly, sometimes not-leading what he calls "a revolution from the heart of nature and the human heart."

In a collection of short, witty, poignant, even humorous essays, Ausubel tracks the big ideas, emerging trends, and game-changing developments of our time. He guides us through our watershed moment, showing how it's possible to emerge from a world where corporations are citizens, the gap between rich and poor is cavernous, and biodiversity and the climate are under assault and create a world where we take our cues from nature and focus on justice, equity, diversity, democracy, and peace.

Even those steeped in the realities of a world gone wrong and efforts to right it will find refreshing, even surprising, perspectives in Dreaming the Future. It will come as no surprise to readers that Ausubel is cofounder of Bioneers-which foreword author David W. Orr describes as "one part global salon...one part catalytic organization."

Available in: Paperback, eBook

Read More

Dreaming the Future

Kenny Ausubel, David W. Orr

Paperback $17.95

Ethical Markets

Ethical Markets

By Hazel Henderson and Simran Sethi

With insight, clarity, warmth, and enthusiasm Hazel Henderson announces the mature presence of the green economy. Mainstream media and big business interests have sidelined its emergence and evolution to preserve the status quo.

Throughout Ethical Markets Henderson weaves statistics and analysis with profiles of entrepreneurs, environmentalists, scientists, and professionals. Based on interviews conducted on her longstanding public television series, these profiles celebrate those who have led the highly successful growth of green businesses around the world.

Ethical Markets is the ultimate sourcebook on today's thriving green economy.

Available in: Paperback

Read More

Ethical Markets

Hazel Henderson, Simran Sethi, L. Hunter Lovins

Paperback $30.00

Thinking in Systems

Thinking in Systems

By Donella Meadows

In the years following her role as the lead author of the international bestseller, Limits to Growth—the first book to show the consequences of unchecked growth on a finite planet— Donella Meadows remained a pioneer of environmental and social analysis until her untimely death in 2001.

Thinking in Systems, is a concise and crucial book offering insight for problem solving on scales ranging from the personal to the global. Edited by the Sustainability Institute’s Diana Wright, this essential primer brings systems thinking out of the realm of computers and equations and into the tangible world, showing readers how to develop the systems-thinking skills that thought leaders across the globe consider critical for 21st-century life.

Some of the biggest problems facing the world—war, hunger, poverty, and environmental degradation—are essentially system failures. They cannot be solved by fixing one piece in isolation from the others, because even seemingly minor details have enormous power to undermine the best efforts of too-narrow thinking.

While readers will learn the conceptual tools and methods of systems thinking, the heart of the book is grander than methodology. Donella Meadows was known as much for nurturing positive outcomes as she was for delving into the science behind global dilemmas. She reminds readers to pay attention to what is important, not just what is quantifiable, to stay humble, and to stay a learner.

In a world growing ever more complicated, crowded, and interdependent, Thinking in Systems helps readers avoid confusion and helplessness, the first step toward finding proactive and effective solutions.

Available in: Paperback, eBook

Read More

Thinking in Systems

Donella Meadows, Diana Wright

Paperback $19.95

The Chelsea Green Reader

The Chelsea Green Reader

Chelsea Green, the Vermont-based independent publisher, has always had a nose for authors and subjects that are way ahead of the cultural curve, as is evident in this new anthology celebrating the company’s first thirty years in publishing.


The more than one hundred books represented in this collection reflect the many distinct areas in which we have published–from literature and memoirs to progressive politics, to highly practical books on green building, organic gardening and farming, food and health, and related subjects–all of which reflect our underlying philosophy: "The politics and practice of sustainable living." The Chelsea Green Reader offers a glimpse into our wide-ranging list of books and authors and to the important ideas that they express. Interesting and worth reading in their own right, the individual passages when taken as a whole trace the evolution of a highly successful small publisher–something that is almost an oxymoron in these days of corporate buyouts and multinational book groups.
From the beginning, Chelsea Green's books were nationally recognized, garnering positive reviews, accolades, and awards. We’ve published four New York Times bestsellers, and our books have set the standard for in-depth, how-to books that remain relevant years–often decades–beyond their original publication date.


"Chelsea Green was born from a single seed: the beauty of craft. Craft in writing and editing, in a story well told, or a thesis superbly expressed," writes cofounder and publisher emeritus Ian Baldwin in the book's foreword. Today, craft continues to inform all aspects of our work–design, illustration, production, sales, promotion, and beyond. It has even informed our business model: In 2012, Chelsea Green became an employee-owned company.

With the rise of the Internet, new media platforms, and a constantly shifting bookselling landscape, the future of publishing is anything but predictable. But if Chelsea Green's books prove anything, it is that, despite these challenges, there remains a hunger for new and important ideas and authors, and for the permanence and craftsmanship of the printed word. Today our ongoing mission is stronger than ever, as we launch into our next thirty years of publishing excellence.

Available in: Paperback, eBook

Read More

The Chelsea Green Reader

Ben Watson, Ian Baldwin

Paperback $15.00