Chelsea Green Publishing

Chelsea Green Blog

The Wall Street Journal Profiles the Slow Money Movement

Today’s Wall Street Journal profiles author Woody Tasch and the Slow Money movement he helped grow. The Slow Money philosophy states that, with billions of dollars zipping around the globe in the form of opaque packaged derivatives and other fantastical Wall Street inventions, money has gotten too fast. Greed has created a system that rewards lunatic speculation and raises profit in importance above all else. That, in a nutshell, is why the economy crashed.

To restore people’s connection to their community, their food, and the soil, Slow Money seeks to find new ways to connect responsible investors to small farmers. The returns on such local investments won’t be huge, but neither will it lead to another house of cards scenario where businesses get too big to fail and profits are based on… well, nothing at all. Slow money gives value to what’s important.

From Stephanie Simon’s article:

A former venture capitalist, Mr. Tasch now travels the country warning that money moves too fast. Billions zip through global markets each day, bundled into financial packages so complex that it is hard to know what you own.

His antidote: A fundamental shift in our attitude toward investing. Taking a page from the Slow Food movement, which calls on consumers to take the time to savor home-cooked meals, Mr. Tasch dubbed his philosophy Slow Money.

[…]

They like the Slow Money concept but worry that it may be more cumbersome than a traditional bank loan. Specifically, they fear deep-pocketed local investors will demand a say in management decisions. Equally perilous: small-sum investors swamping the Lobaughs with requests for tours and samples, and interminable inquiries about the goats.

“We’re still weighing out” whether it’s worth the trouble, Ed Lobaugh said.

The Slow Money movement aims to address these concerns by creating regional funds to broker interaction between investors and farmers. Such funds exist in many communities for investment in affordable housing and mom-and-pop entrepreneurs. Just a few have cropped up to invest in local farms, such as the Carrot Project in New England.

Mr. Tasch has spent years in the field of socially responsible investing, managing foundation funds and distributing tens of millions in venture capital. He came to the Slow Money philosophy several years ago, he said, but it all crystallized for him after the financial crash of last fall. The author of the recent book, “Inquiries into the Nature of Slow Money,” he has posted a statement of his principles online and hopes to get a million people to endorse them.

“We must bring money back down to earth,” he says. He knows it won’t be easy, he says. But Slow Money is nothing if not patient.

Read the whole article here.

Related Articles:


Chelsea Green Weekly for May 5, 2017

Ever wonder what your favorite Chelsea Green authors do between writing groundbreaking–both literally and figuratively–books? Here are the best links and resources for your weekend reading pleasure. Let’s start with The Alzheimer’s Antidote. The Alzheimer’s Antidote Amy Berger has been making the rounds on the health, wellness, and fitness circuit, explaining the theories behind her revolutionary […] Read More

Q&A with Kate Raworth about her radical new book, DOUGHNUT ECONOMICS

Q: First things first: Why did you want to write this book? A: I studied economics at university 25 years ago because I wanted to make a difference in the world and believed that economics – the mother tongue of public policy – would best equip me to do that. Instead, its theories left me […] Read More

Chelsea Green: In the Media 2016

Oh, 2016. Where did the time go? Each year, Chelsea Green receives hundreds of mentions (well over 1000 in 2016) in the media both big and small. From interviews, to excerpts, to opinion pieces by authors we’re always working to make sure that the mission and message of each book is spread far and wide. […] Read More

Slack and Taut: Defining a System’s Resilience

A resilient future (or a resilient present, for that matter) needs to be slack, not taut. What do we mean? Core to the concept of a Lean Economy is understanding the need to move toward a “slack” market rather than one that is “taut.” When British economist David Fleming died unexpectedly in 2010, he left […] Read More

Prehistory of the Next American Revolution

What now? A new Revolution? If we are to counter the dangers both of corporate domination and of traditional forms of socialist statism, decentralization is essential—both of economic institutions and of political structure. We are at a point in our nation’s history that could, decades from now, be taught as the prehistory of the next […] Read More
+1
Tweet
Share
Share
Pin