Activating Stagnant Capital to Catalyze Local Transformation
Small is Beautiful advocated “production from local resources, for local needs” as a key organizing principle of a just, ecologically-balanced economics. But a web of flourishing regional economies, producing first for local needs, is possible only when communities have access to resources and the power to direct investments.
With
soaring inequality and the pressing need to transition out of old,
extractive systems, accumulated wealth cannot remain stagnant. Either it
will be captured and reallocated centrally via taxes, or, it can be
released: as free gifts and interest-free investments for place-based
transformation of social, economic and cultural life.
May’s panelists are those advancing innovative approaches to catalytic
wealth redistribution. This group of participants advocate radical
steps—encouraging foundations to spend down their funds, land gifting
rather than land-hoarding, and divestment from Wall Street back into
Main Streets. In short, calling on people and institutions to commit to
transformation here and now.
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