Published in June 2011 by John Wiley & Sons, Locavesting is a call to rethink the way we invest, so that we support the small businesses that create jobs and healthy, resilient communities. Just as “Buy Local” campaigns have found that a small shift in purchasing from chains to locally owned enterprises can reap outsized benefits for a community, so, too, can a small shift in our investment dollars. The book explores the extraordinary experiment in citizen finance taking place across the country, from Brooklyn, NY to Honolulu, HI and dozens of towns in between, as communities take back control of their financial destinies while revitalizing the communities they call home. These citizens are at the vanguard of a grassroots revolution that journalist Amy Cortese calls “locavesting.”
Locavesting introduces readers to these pioneers and the models they are creating—some new, some as old as capitalism itself—to put their money to work locally, from community ownership to crowdfunding to the rebirth of local stock exchanges. In the process, they are rebuilding their nest eggs, their communities, and, just perhaps, the country.
Along with books by Michael Shuman, Marjorie Kelly and other new economy thinkers, Locavesting makes a key contribution to the national discussion around how to create a more fair and sustainable economy. This web site builds on the foundation of the book to provide up-to-date coverage of the local economy and crowdfinance movements, and connects investors, entreprenuers and civic leaders with the knowledge and resources they need.
Praise for Locavesting:
“An inspiring look at what local businesses can achieve.”
–JOSEPH E. STIGLITZ, economist and 2001 Nobel Laureate
“Buy this book before the Securities and Exchange Commission (SEC) bans it! Locavesting demolishes the myth that the best investment options lie in the financial-doomsday machine we call Wall Street. Fasten your seatbelts for a mind-blowing journey where you will learn about dozens of highly profitable community investment opportunities. Amy Cortese takes you on a breathtaking ride.”
— MICHAEL H. SHUMAN, author of the Small-Mart Revolution and Going Local
“Investing locally makes sense as long as you do it with your eyes wide open. And this book is a realistic, up-to-the-minute exploration of the field. After all, it was the local community that invested in Ben & Jerry’s–and it worked out pretty well for them.”
— BEN COHEN, cofounder of Ben & Jerry’s
“Simple, brilliant and well informed. Good for what ails us as a country and a society.”
—TED LEONSIS, former president and vice chairman of America Online
“If Michael Pollan changed the way you think about food, let Amy Cortese change the way you think about finance.”
—JAY LEE, founder, SmallKnot