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![Page 1: Oregon Rural Action’s Annual Meeting: Making the Shift Building a Vibrant Local Economy Amidst the Broken Global Financial System La Grande, Oregon October.](https://reader036.fdocuments.in/reader036/viewer/2022081516/56649c8a5503460f949434f8/html5/thumbnails/1.jpg)
Oregon Rural Action’s Annual Meeting: Making the Shift
Building a Vibrant Local Economy Amidst the Broken Global Financial System
La Grande, Oregon October 9, 2010
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My Story
From Wall Street to Grasslands and the Capital Institute
“I once said greed was good… now it seems that greed is legal.”
- Gordon Gekko
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http://pricetags.files.wordpress.com/2008/04/800px-london_millenium_wobbly_bridge1.jpg
Bridging the gap between mainstream finance and the new economy movement.
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the dilemma of compound growth
UNSUSTAINABLE
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Economics ignores laws of thermodynamics
Economics ignores laws of thermodynamics
Anyone who thinks you can grow the economy forever on a finite planet is either a madman or an economist!
- Kenneth Boulding
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Symptom: financial crisis
Problem: unsustainable economic system
Sustained economic growth: oxymoron?
The world is full…but nothing is changing.Planetary
Boundaries
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FACTIf everyone were to live like Americans we would need 5 Earths
http://passmethemalkplease.files.wordpress.com/2008/04/gursky.jpg
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So what? http://www.oneinchpunch.net/wordpress/wp-content/uploads/2007/12/crude-oil-spill-clear-up.jpg
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http://www.oneinchpunch.net/wordpress/wp-content/uploads/2007/12/crude-oil-spill-clear-up.jpg
Financial Crisis crisis
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Population Crisis
http://cdn5.mattters.com/photos/photos/1370157/crowded_train_stations_in_china_10.jpg&imgrefurl
World 6,826,859,514
http://2.bp.blogspot.com
/_JSpbgoKp8LA/SjF4960b8qI/AAAAAAAAFVg/B4CaO
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orldpop_2009_lowerfertility.gif
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Climate Crisis
http://www.katrina.noaa.gov/helicopter/images/katrina-new-orleans-flooding3-2005.jpg
Hurricane Katrina, 2005
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Water Crisis
http://www.naturalbuy.com/wp-content/uploads/2008/08/water-crisis.jpg
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Peak Soil
In past 40 years, 30% of farmland has become unproductive
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Peak Oil
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Energy Crisis
http://cdn.content.compendiumblog.com/uploads/user/206a9a2b-627f-446d-b836-03b603106274/08ef70d7-7014-48c5-b9a5-7d322cf1fccc/Image/caa79888d3200de8c9ed8dbfb0bfd8c4.jpg
“Nothing has changed….oil and natural gas are essential to our way of life.”
- Jack Gerard, American Petroleum Institute
“Nothing has changed….oil and natural gas are essential to our way of life.”
- Jack Gerard, American Petroleum Institute
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So if we know the problems,
why aren’t we changing?
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Economic Efficiency
Economy
FinancePlanetPlanet
What’s wrong with this picture?
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Sustainability
Optimum
Efficiency
100%
0%
Resiliency
Collapse of Financial System
Collapse of Financial System
Source: Bernard Lietaer, 2008
Biosphere
Economy
Finance
Sustainability in Complex Systems
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In the wake of one of the World’s greatest economic crises,
“sustainability” is unable to compete with mainstream perceptions of financial reform
http://www.dirtyday.com/wp-content/uploads/2009/06/20070626231520_dsc_1152.jpg
2005 2006 2007 2008 2009
Public Opinion on Priority: Sustainability vs. Economic Growth
sustainability
economic growth
Opi
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GALLUP POLL
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Look where the money’s going:
http://www.eli.org/pdf/Energy_Subsidies_Black_Not_Green.pdf
Climate Protecting
Climate Damaging
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Finance is the fuel source…
what we feed GROWS
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Reform
Transform
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Harnessing Capital.
A world in which finance serves a just, resilient and sustainable economic system.
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Driving capital upstream
http://3.bp.blogspot.com/_o0s746IzxZ
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Building a Vibrant Local Economy
taking action
http://pixdaus.com/single.php?id=131088
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”. . . production from local resources for local needs is the most rational way of economic life...”
- E. F. Schumacher, Small Is Beautiful
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Place based diverse economies: building resiliency
Tribal? Portland Detroit
Sustainability
Optimum
Efficiency
100%
0%
Resiliency
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“Economies of location often override and outdo economies of scale.”
- Jane Jacobs, The Nature of Economies
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Farmer’s Diner“increasing the economic vitality of local agrarian communities”
Decreasing distance from farm to plate, increasing profit for local farmers
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Grasslands, LLC: Holistic Management
Restore ecological function, revitalize rural communities. Profitably.
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“When you improve the quality of the land in an ecological sense, the profitability follows.”
How to Save the Grasslands: Bring in More CattleBy JUDITH D. SCHWARTZ Tuesday, Sep. 07, 2010
Grasslands, LLC
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Local CAN scale
• Founded in 1956• Philosophy: Co-operation | Participation | Social Responsibility | Innovation
• 4 Sectors: Finance, Industry, Distribution and Knowledge
• 85,000 people, 256 companies, 15 Billion Euros in turnover
Basque Country, Spain
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Local CAN scale
• “Import replacement” activity (Jane Jacobs)
• Employee-owned, for-profit companies: greenhouse produce, laundry service, solar energy
• Based locally, hire locally: permanent green jobs
• Workers earn a living wage, build equity as owners
• Circulate money within community - 5:1 multiplier
Cleveland, OH
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Local Community Capital
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Complementary Currencies: building resiliency
• Thousands of examples, over 600 in Japan alone
• Numerous countries
• Highly diverse ecosystem
• Multiple “schools” of thought
Sustain Optimum
Efficiency0%
Resiliency
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Complementary Currencies: proven models WIR Bank
• Founded in 1934, Switzerland
• Response to stock market crash in 1929
• The word for “we” in German > economic circle is also a community
• Has grown from 16 to 62,000 members
• Swiss Franc 1.6 Billion annual turnover
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Complementary Currencies: time banks
• Building the Core Economy
• Time really is money
• Strengthening communities through reciprocity
• “We are all assets”
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Complementary Currencies: emerging models
BerkShares• A local currency for Southern
Berkshire region of Massachusetts (pop. 19,000)
• Defines a trading area, an economic footprint
• Distinguishes the local businesses
• Builds loyalty
• Encourages community self-reliance and wellbeing of community
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“A good community, as we know, insures itself by trust, by good faith and good will, and by mutual help.
A good community, in other words, is a good local economy.”
-Wendell Berry
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What is the purpose of capital?