Burinlington Union - Bruce Coulter - It’s all about the benjamins. But for the past 18 months or so, consumers have been less willing to part with their hard-earned cash, whether that greenback has a picture of George Washington or Ben Franklin.
As national economies have stalled, so has the global economy. Americans have seen the housing markets slump, car manufacturers crash, and banks begging for bailouts.
WorldingChanging.com - Cathy Tuttle - Even prior to the economic breakdowns we are now experiencing, economists who study globalization found that only about 20 percent of the money we spend in chain stores stays local, while the other 80 percent quickly zips back into the global market of manufacturers, distributors, transporters and investors. Spending your money in a locally owned business has the inverse effect, with 80 percent of money you shell out bouncing around for a while in local wages and suppliers.
TIme Magazine - Judith Schwartz - With local economies flailing communities across the U.S. are trying to
drum up more action on Main Street. "Buy Local" campaigns are one way to go.
But many towns--from Ojai, Calif., to Greensboro, N.C.--are considering
going a step further and printing money that can only be spent locally.
Wall Street Journal Online - WSJ's Andy Jordan spends time in the Berkshires to see how locals make the case for "slow money" with their own local currency, "The BerkShare".