Local Stock Exchanges: The Next Wave of Community Economy Building

Michael H. Shuman, outubro 2007

Ler artigo completo na página de : I’d like to make six arguments today: First, we can say with growing confidence that the basic requirement for local prosperity both here and abroad is an entrepreneurial community, a locale rooted in small businesses producing a diversity of competitive goods and services for local needs. Second, a key characteristic of an entrepreneurial community, as E. F. Schumacher disciples know instinctively, is a critical mass of locally owned businesses. Third, the most significant missing piece in efforts to promote entrepreneurial communities is local finance, which would expand the reach and power of local ownership. Fourth, a logical requirement for building up the structures of local finance is the replication of what markets have done nationally and globally. We need to make it easier, cheaper, and more effective to issue, evaluate, create, and trade local stock—in other words, to create a system that links ownership with place and allows people to reinvest their retirement funds and other savings directly in their community Fifth, the creation of local stock offers myriad benefits to investors, entrepreneurs, and communities. Sixth, a local stock exchange is an idea that may seem a generation away but in fact is already being implemented, both domestically and globally. The future of local stock markets, I will argue, is now, although there is much we can and need to do to accelerate this concept.

Resumo :

six arguments for local stock exchanges:

First, we can say with growing confidence that the basic requirement for local prosperity both here and abroad is an entrepreneurial community, a locale rooted in small businesses producing a diversity of competitive goods and services for local needs.

Second, a key characteristic of an entrepreneurial community, as E. F. Schumacher disciples know instinctively, is a critical mass of locally owned businesses.

Third, the most significant missing piece in efforts to promote entrepreneurial communities is local finance, which would expand the reach and power of local ownership.

Fourth, a logical requirement for building up the structures of local finance is the replication of what markets have done nationally and globally. We need to make it easier, cheaper, and more effective to issue, evaluate, create, and trade local stock—in other words, to create a system that links ownership with place and allows people to reinvest their retirement funds and other savings directly in their community

Fifth, the creation of local stock offers myriad benefits to investors, entrepreneurs, and communities.

Sixth, a local stock exchange is an idea that may seem a generation away but in fact is already being implemented, both domestically and globally. The future of local stock markets, I will argue, is now, although there is much we can and need to do to accelerate this concept.

Fontes :

New Economics Institute Michael H.