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Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
Local economics - David Boyle
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Local economics - David Boyle

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

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