Chelsea Green Publishing

The Local Economy Solution

Pages:248 pages
Size: 6 x 9 inch
Publisher:Chelsea Green Publishing
Paperback: 9781603585750
Pub. Date June 11, 2015

The Local Economy Solution

How Innovative, Self-Financing "Pollinator" Enterprises Can Grow Jobs and Prosperity

Availability: In Stock

Paperback

Available Date:
June 11, 2015

$19.95

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 special kinds of businesses that help local businesses 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 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.

REVIEWS AND PRAISE

Choice-

"Shuman is an economist, an attorney, and the author of three other books on local economies. This most recent book is a practical overview of how to generate economic development without selling one's soul to big government and philanthropies. Shuman developed the book from interviews he conducted in 2014 with entrepreneurs who headed up 36 ‘pollinators,' defined as 'self-financing enterprise[s] committed to boosting local business.’ A pollinator allows a community to take on key economic development functions: identifying opportunities for local businesses (the planning), fostering buy efforts (the purchasing), training locals for business opportunities (the people), showing how local businesses can work together (the partnerships), and finding how local capital can be mobilized to expand local businesses more cost-effectively than taxpayer-funded programs can (the purse). Shuman urges readers and their friends to form local investment clubs; such clubs essentially make members part of the solution because they help those interested in joining the movement move away from 'legalized bribery,' such as offering companies tax breaks to abandon their hometowns. Taken as a whole, this book presents an engaging story of the emerging localization movement by describing real people and enterprises doing real development. Summing Up: Recommended. Lower-division undergraduates through professionals and practitioners.”

Kirkus Reviews-

"An argument against bringing large corporations to local communities through tax incentives and grants, an approach the author claims is destructive to employment and investment. Shuman (Local Dollars, Local Sense: How to Move Your Money From Wall Street to Main Street and Achieve Real Prosperity, 2012, etc.), a longtime advocate for promoting local business and a former director of the Business Alliance For Local Living Economies, asserts that "economic development today is completely broken." Citing the 750-fold increase in subsidies for the movie industry over the past decade, the author debunks the myths circulated to support attracting business in this way, and he argues that such deals do not create jobs but rather take more money out of communities than they bring in. He insists that "those who win the investment lose" and that "it's high time for economic developers to get back to business." Shuman views local startup businesses as the answer, especially the kind he calls "pollinators." These measure success more broadly than by direct returns and include significant contributions to their community and other local businesses. This approach is intended to strengthen a core feature of the current economy. "All companies that matter," he writes, "are not globally mobile." More than half are not spreading across the world but are locally owned and unlikely to move. U.S. capital markets do not often invest in local businesses. Self-financing local "pollinators" address this "huge capital market failure." Shuman believes that planners should focus on the potentials within their areas through the accumulation of the detailed knowledge necessary, and he provides ways to measure opportunities lost and potential foregone. He also discusses profiles from several cities and counties to exemplify ways in which local businesses are being promoted. These include Sustainable Connections in Bellingham, Washington, and Local First Arizona, among others. A practical overview of the untapped potentials of a substantial part of the economy."

“Michael Shuman, long a pioneer in the local-economy movement, has pushed the conversation forward once again, showcasing new tools for localists, new business models for entrepreneurs, and new development strategies for economic planners. A terrific resource for cash-strapped communities building wealth and resilience from the ground up.”--Judy Wicks, author of Good Morning, Beautiful Business, cofounder of BALLE, and founder of the White Dog Café

"Michael Shuman has done it again. In The Local Economy Solution, he shreds the conventional wisdom about economic development and local business initiatives that rely on grants. His Rx: self-financing “pollinator” businesses. This one is sure to make some waves!”--Amy Cortese, author of Locavesting: The Revolution in Local Investing and How to Profit From it 

"Shuman’s book is critically important to anyone who cares about genuine economic development. Neither left nor right politically, it’s positive and encouraging, while confronting head-on the challenges of the approach he has advocated for years. Unlike many economic development books that can be tedious, this one is engaging, even fun to read, like a good story told over a beer – but a practical story that will help communities reach a resilient future."--Michael Kinsley, manager, Rocky Mountain Institute

"Shuman's many followers in the new economics movement will relish this latest offering for its focused message, compelling stories, and coherent vision. He embodies the Gandhian dictum to both see the change and be it. Readers new to his work will be appalled to learn of the "counterproductive and corrupting" practices in mainstream economic development, and relieved to encounter the creative entrepreneurs who are "pollinating" the spread of locally rooted alternatives."--Diana Chapman Walsh, president emerita, Wellesley College 

 "Another blockbuster treatise on can-do, localized entrepreneurism. Shuman is a master.”--Joel Salatin, Polyface Farm

"Michael Shuman pulls no punches in his biting review of local contemporary economic development. Every thoughtful practitioner, whether agreeing with his critique or not, must seriously consider Shuman’s nuanced approach to growing local economies through 'pollinator' enterprises."--Robert Jaquay, The George Gund Foundation

"The emerging localization movement owes a huge debt of gratitude to Michael Shuman. A visionary thinker with decades of hard-won, grassroots experience, he offers not only a clear picture of a very different economic landscape but the steps we need to take—as individuals and as communities—to move from here to there."--Helena Norberg-Hodge, founder and director of Local Futures and producer and co-director of The Economics of Happiness

"The Local Economy Solution is Shuman at his best. Using language accessible to lay people and policy makers alike, Shuman explains why the standard model of economic development is flawed and goes into detail, with many examples, about better ways to build local economies. This should be mandatory reading for planners and business people across the country. "--Chris Morrow, Northshire Bookstores

"First rate! Cutting-edge strategies for community-sustaining business development without bribing big corporations—by one of the nation’s leading and most creative localists!”--Gar Alperovitz, author of What Then Must We Do? Straight Talk About the Next American Revolution      

"Michael Shuman’s first book showed us a vision of community economics and empowerment; his latest book, The Local Economy Solution, examines some of the best examples of community-based enterprise as he teaches us how to bring vision to reality. An excellent  and welcome addition to my library that builds on Michael’s extraordinary expertise and insights."--Jed Emerson, coauthor, The Impact Investor: Lessons in Leadership and Strategy for Collaborative Capitalism

"I have been impressed by Michael Shuman for a long time, but The Local Economy Solution sent my admiration soaring. He shows the genuine myopia and "legal corruption" of the prevailing model of state and local economic development, then he explains the new localist model taking hold in many enlightened communities; and, best of all, he brings his engaging writing skills to describing the real people and enterprises that are bringing this model to life. His book is both an inspiration and a handbook for doing real development.”--James Gustave Speth, author of America the Possible: Manifesto for a New Economy and Angels by the River: A Memoir

"Michael Shuman is a pioneering voice for an economic development model that is sustainable and truly democratic. I've read all his books and this is the best one yet. Do yourself a favor and absorb his brilliance."--Kevin Danaher, cofounder of Global Exchange, Green Festivals, and Fair Trade USA

"Michael Shuman is the world’s most knowledgeable cheerleader and observer of efforts to promote local economies, and each of his books offers essential, practical information to advance the cause. In The Local Economy Solution, he shines light on new models of local economic development that are self-financing—an all-important innovation, given that many localist efforts currently depend on subsidies and grants. If you have any interest in furthering your region’s economic resilience, this brilliant, clear book should be at the very top of your reading list."--Richard Heinberg, senior fellow, Post Carbon Institute

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

Local Dollars, Local Sense

Local Dollars, Local Sense

By Michael Shuman

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.

Available in: Paperback

Read More

Local Dollars, Local Sense

Michael Shuman, Peter Buffett

Paperback $17.95

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

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

The New Bread Basket

The New Bread Basket

By Amy Halloran

For more than 10,000 years, grains have been the staples of Western civilization. The stored energy of grain allowed our ancestors to shift from nomadic hunting and gathering and build settled communities—even great cities. Though most bread now comes from factory bakeries, the symbolism of wheat and bread—amber waves of grain, the staff of life—still carries great meaning.

Today, bread and beer are once again building community as a new band of farmers, bakers, millers, and maltsters work to reinvent local grain systems. The New Bread Basket tells their stories and reveals the village that stands behind every loaf and every pint.

While eating locally grown crops like heirloom tomatoes has become almost a cliché, grains are late in arriving to local tables, because growing them requires a lot of land and equipment. Milling, malting, and marketing take both tools and cooperation. The New Bread Basket reveals the bones of that cooperation, profiling the seed breeders, agronomists, and grassroots food activists who are collaborating with farmers, millers, bakers, and other local producers. 

Take Andrea and Christian Stanley, a couple who taught themselves the craft of malting and opened the first malthouse in New England in one hundred years. Outside Ithaca, New York, bread from a farmer-miller-baker partnership has become an emblem in the battle against shale gas fracking. And in the Pacific Northwest, people are shifting grain markets from commodity exports to regional feed, food, and alcohol production. Such pioneering grain projects give consumers an alternative to industrial bread and beer, and return their production to a scale that respects people, local communities, and the health of the environment.

Many Americans today avoid gluten and carbohydrates. Yet, our shared history with grains—from the village baker to Wonder Bread—suggests that modern changes in farming and processing could be the real reason that grains have become suspect in popular nutrition. The people profiled in The New Bread Basket are returning to traditional methods like long sourdough fermentations that might address the dietary ills attributed to wheat. Their work and lives make our foundational crops visible, and vital, again.

Available in: Paperback

Read More

The New Bread Basket

Amy Halloran

Paperback $17.95

Runaway Inequality

Runaway Inequality

By Les Leopold

Revised, Updated Edition

Runaway inequality is now America’s most critical economic fact of life. In 1970, the ratio of pay between the top 100 CEOs and the average worker was 45 to 1. Today it is a shocking 829 to one! During that time a new economic philosophy set in that cut taxes, deregulated finance, and trimmed social spending. Those policies set in motion a process that greatly expanded the power of financial interests to accelerate inequality. But how exactly does that happen?

Using easy-to-understand charts and graphs, Runaway Inequality explains the process by which corporation after corporation falls victim to systematic wealth extraction by banks, private equity firms, and hedge funds. It reveals how financial strip-mining puts enormous downward pressure on jobs, wages, benefits, and working conditions, while boosting the incomes of financial elites.

But Runaway Inequality does more than make sense of our economic plight. It also shows why virtually all the key issues that we face—from climate change to the exploding prison population—are intimately connected to rising economic inequality.

Most importantly, Runaway Inequality calls upon us to build a common movement to tackle the sources of increasing income and wealth inequality. As the author makes clear, the problem will not cure itself. It will take enormous energy and dedication to bring economic justice and fairness back to American society.

The book is divided into four parts:

  • Part I: What is the fundamental cause of runaway economic inequality? What has made our economy less fair and left most of us less secure?
  • Part II: How does the United States really compare with other major developed countries?  How do we stack up on quality of life, health, and well-being?
  • Part III:  What does economic inequality have to do with so many of the critical issues we face, including taxes, debt, education, criminal justice, racism, climate change, foreign trade, and war?
  • Part IV: What concrete steps can we take to begin building a fair and just society?   

From the book: “There is nothing in the economic universe that will automatically rescue us from runaway inequality. There is no pendulum, no invisible political force that ‘naturally’ will swing back towards economic fairness. Either we wage a large-scale battle for economic, social, and environmental justice, or we will witness the continued deterioration of the world we inhabit. The arc of capitalism does not bend towards justice. We must bend it.”

Available in: Paperback

Read More

Runaway Inequality

Les Leopold

Paperback $19.95

Carbon Shock

Carbon Shock

By Mark Schapiro

In Carbon Shock, veteran journalist Mark Schapiro takes readers on a journey into a world where the same chaotic forces reshaping our natural world are also transforming the economy, playing havoc with corporate calculations, shifting economic and political power, and upending our understanding of the real risks, costs, and possibilities of what lies ahead.

In this ever-changing world, carbon—the stand-in for all greenhouse gases—rules, and disrupts, and calls upon us to seek new ways to reduce it while factoring it into nearly every long-term financial plan we have. But how?

From the jungles of the Amazon to the farms in California’s Central Valley, from ‘greening’ cities like Pittsburgh to rising powerhouses like China, from the oil-splattered beaches of Spain to carbon-trading desks in London, Schapiro deftly explores the key axis points of change.

For almost two decades, global climate talks have focused on how to make polluters pay for the carbon they emit. It remains an unfolding financial mystery: What are the costs? Who will pay for them? Who do you pay? How do you pay? And what are the potential impacts? The answers to these questions, and more, are crucial to understanding, if not shaping, the coming decade.

Carbon Shock evokes a world in which the parameters of our understanding are shifting—on a scale even more monumental than how the digital revolution transformed financial decision-making—toward a slow but steady acknowledgement of the costs and consequences of climate change. It also offers a critical new perspective as global leaders gear up for the next round of climate talks in 2015.

Available in: Hardcover

Read More

Carbon Shock

Mark Schapiro

Hardcover $26.00

Market Farming Success

Market Farming Success

By Lynn Byczynski

An insider's guide to market gardening and farming for those in the business of growing and selling food, flowers, herbs, or plants.
Market Farming Success identifies the key areas that usually trip up beginners—and shows how to avoid those obstacles. This book will help the aspiring or beginning farmer advance quickly and confidently through the inevitable learning curve of starting a new business.
Written by the editor of Growing for Market, a respected trade journal for market farmers, Market Farming Success condenses decades of growing experience from every part of the United States and Canada. It focuses on the factors that are common to market gardeners everywhere and offers professional advice that includes:
•    How much you'll need to spend to start a market farming business;
•    How much you can expect to earn;
•    Which crops bring in the most money—and whether you should grow them;
•    The essential tools and equipment you will need;
•    The best places to sell your products;
•    How to keep records to maximize profits and minimize taxes;
•    Tricks of the trade that will make you more efficient in the greenhouse, field, and market.

This new Chelsea Green edition of a 2006 classic is greatly updated and expanded, and includes full-color photos, charts, and graphs, plus many inspiring and instructive profiles of successful market-farming pioneers.

Available in: Paperback

Read More

Market Farming Success

Lynn Byczynski

Paperback $29.95