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Local Dollars, Local Sense: How to Shift Your Money from Wall Street to Main Street and Achieve Real Prosperity (Community Resilience Guides) by [Michael Shuman, Peter Buffett]

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Local Dollars, Local Sense: How to Shift Your Money from Wall Street to Main Street and Achieve Real Prosperity (Community Resilience Guides) Kindle Edition

3.7 out of 5 stars 42 ratings

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Length: 291 pages Word Wise: Enabled Enhanced Typesetting: Enabled
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Editorial Reviews

Review

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.



"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



"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



"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



"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

--This text refers to an out of print or unavailable edition of this title.

From the Back Cover

Michael Shuman has done it again. InLocal 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 --This text refers to an out of print or unavailable edition of this title.

Product details

  • Print Length : 291 pages
  • Publisher : Chelsea Green Publishing (February 20, 2012)
  • Word Wise : Enabled
  • Publication Date : February 20, 2012
  • File Size : 1311 KB
  • Language: : English
  • ASIN : B007EV7Q9Q
  • Text-to-Speech : Enabled
  • X-Ray : Not Enabled
  • Enhanced Typesetting : Enabled
  • Lending : Not Enabled
  • Customer Reviews:
    3.7 out of 5 stars 42 ratings