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Local economics - David Boyle
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Local economics - David Boyle

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Transcript

  • 1. Making things happen again
    Is it possible?
    David Boyle
    23 June 2011
  • 2. Background
    It is a truth universally acknowledged that a government in recession must be in want of a recovery policy...
  • 3. The northern cities?
  • 4. The problem
    • Treasury horror at regional policy.
    • 5. ‘Tesco’ approach (a jobs plan not a recovery plan)
    • 6. The old dream (enterprise fills a vacuum)
    .
  • 7. The underlying problem
    • Bone-headed centralisation
    • 8. Unbalanced economic policy (set to suit the City)
    • 9. Poor transport infrastructure
    • 10. Weak regional institutions
    • 11. ‘Can’t do, won’t do’ culture
  • Local government economic policy
    “The old economy got burned down in the financial crisis. But a new economy might be able to rise, Phoenix-like, from the ashes of the old...”
    Nick Clegg, Rotherham, 4 Feb 2011
  • 12. Introducing…
    Thenew economics
    Ten Step programme
    for local recovery...
  • 13. Step1
    Rebuild local economies by plugging the leaks that are draining local money away.
  • 14. Money flows in
  • 15. Money flows out again
    Knowlsey study (2001): only 8% stays put
    Cornwall study (2001):
    £1 in supermarket = £1.40
    £1 in veggie box = £2.50
  • 16. Irrigation
    If money coming in goes right out, then the economy doesn’t benefit.
    To keep money circulating in the local economy, you must create linkages that enable people to spend locally.
  • 17. Prince Charles circulating money
  • 18. Flow
  • 19. The circulation of blood
  • 20. Marsh Farm
  • 21. What it means…
    It isn’t how much money you have going into an area that counts, it’s how you use it....
  • 22. Step 2
    Develop local diversity and distinctiveness.
  • 23. Clone Town Britain (2005-10)
  • 24. Supplicants to Tesco
    “Developers are like urban Domestos. They destroy 99% of all known distinctiveness.” Hugh Pearman, Sunday Times
  • 25. Dependence and independence
  • 26. … local pride
  • 27. Step 3
    Bust local monopolies to let enterprise flourish.
     
  • 28. Which is the anchor store?
  • 29. San Diego
  • 30. Step 4
    Organise enterprise coaching, support and advice in every neighbourhood.
     
  • 31. BizFizz
  • 32. BizFizz network map
  • 33. Plugging the leaks
  • 34. Step 5
    Use local resources to build an effective new local lending infrastructure.
     
  • 35. Number of banks per million people
    170 (UK)
    520 (Germany)
    960 (France)
  • 36. It isn’t the money, it’s the lenders
    • Green investment bank
    • 37. Local pensions
    • 38. Local authority banks
    • 39. Postbank
    • 40. CDFIs and credit unions
    • 41. Mission related investment
  • Step 6
    Invest in local energy and food.
     
  • 42. A few facts…
    Proportion of UK energy generated by local authorities: 0.01%
    Equivalent figure in Germany: 1%
    Proportion of energy lost in transmission: two thirds
  • 43. Step 7
    Use waste products as raw material for new enterprises.
     
  • 44. Virtuous circles
  • 45. Bulky Bob’s
  • 46. Step 8
    Use public sector spending to local money flows.
     
  • 47. Cleveland
  • 48. Mondragon
  • 49. Evergreen co-operatives
  • 50. Evergreen again
  • 51. Evergreen principles
    • The new co-operatives that employ local people.
    • 52. Redirecting the spending power of the local hospital to launch them and underpin them.
  • Step 9
    Launch a range of new kinds of money.
  • 53. Free money
    “On the morning after the Depression a man came to work building a house, and the foreman said to him "Sorry chum you can't work today. There ain't no inches." He said "What do you mean there ain't no inches? We got lumber, we got metal, we even got tape measures." The foreman said "The trouble with you is you don't understand business. There are no inches. We have been using too many of them and there are not enough to go around.” Alan Watts, From Time to Eternity, 1960
  • 54. Local economic exchange
  • 55. Step 109
    Experimenting with new kinds of credit creation for local public benefit.
  • 56. Real QE?
  • 57. Find out more…
    New Economics Foundation www.neweconomics.org
    Plugging the leaks www.pluggingtheleaks.org.uk
    Local money flows www.lm3.org.uk
    BizFizzwww.bizfizz.org.uk
    Evergreen www.evergreencoop.com
    Louisville business alliancewww.keeplouisvilleweird.com