Create a Local, Area-Wide Economy

Economies are complicated and the creation of a most effective area-wide economy could take a full-length book to deal with some of the more important matters. I only have a few paragraphs, to try to suggest what topics need to be considered by the local movers and shakers.

Components of an Area-Wide, Local Economy

1. local manufacturing of goods as substitutes for goods currently being imported into the area
2. manufacturing of renewable energy
3. area-wide payroll administrator
4. database of goods and services being offered by local businesses and self-employed persons
5. local services instead of imported services, such as local banks to provide non-usurious credit cards and loans to local residents, and for receipt of deposits of local residents and businesses
6. tuition-free equivalency college for area residents only to bring educational level to a level that will enable the residents to prosper in the various marketplaces in which they will be competing
7. creation of a stock market for area-wide small businesses to obtain small-business financing and for investors to be able to resell their shares
8. assisting homeowners having foreclosure problems, through refinancing with local bank which would understand the local economy and underwriting risks better than a national bank; through intervention to help the homeowner obtain a workable modification or forbearance agreement or reverse mortgage, just to name some options, or counseling in bankruptcy options
9. financial reform by enforcement of laws prohibiting or requiring full disclosure as to the financial instruments and practices that have wreaked havoc on the U.S. economy
10. reduction of prison population, to strengthen the families of unnecessarily incarcerated persons and make them better able to earn a living

There are many aspects to creating an effective area-wide economy. Some good ideas are developed in a must-view video of a 2-hour lecture by Michael Shuman entitled "The Small-Mart Revolution at http://www.youtube.com/watch?v=eNYMU4V8nbs

Carl E. Person
Candidate for NYS Attorney General - 2010