‘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 />
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 />
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 />
Evergreen principles<br /><ul><li>The new co-operatives that employ local people.
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 />
Free money<br />“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<br />