What is a Local Living Economy?
A Living Economy ensures that economic power resides locally to the greatest extent possible, sustaining vibrant, livable communities and healthy ecosystems in the process.
A Living Economy is guided by the principles of producing and exchanging locally as many products needed by their citizens as they reasonably can, while reaching out to other communities to trade fairly in those products they cannot reasonably produce at home. These communities value their unique character and encourage cultural exchange and cooperation.
Living economy public policies support decentralized ownership of businesses and farms, fair wages, taxes, and budget allocations, trade policies benefiting local economies, and stewardship of the natural environment.
Living economy citizens appreciate the benefits of buying from living economy businesses and, if necessary, are willing to pay a price premium to secure those personal and community benefits.
Living economy investors value businesses that are community stewards and as such accept a “living return” on their financial investments rather than a maximum return, recognizing the value derived from enjoying a healthy and vibrant community and sustainable global economy.
Living economy media provide sources of news independent of corporate control, so that citizens can make informed decisions in the best interests of their communities and natural environment.
Living economy businesses are independent, primarily locally owned, and value the needs and interests of all stakeholders while building long-term profitability. They strive to Source products from businesses with similar values, with a preferencefor local procurement, provide employees a healthy workplace with meaningful living-wage jobs, offer customers personal service and useful safe, quality products. They work with suppliers to establish a fair exchange, cooperate with other businesses in ways that balance their self-interest with their obligation to the community and future generations and use their business practices to support an inclusive and healthycommunity, and to protect our natural environment and yield a “living return” to owners and investors.
What Are The Building Blocks of a Local Living Economy?
- Sustainable Agriculture and Natural resources
- Renewable Energy
- Zero-Waste Manufacturing
- Independent Retail and Services
- Community Capital
- Green Building
- Health and Wellness
- Independent Media
- Arts and Culture
- Reuse and Waste Management
- Sustainable Transportation