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Fiscal Localism
Fiscal localism comprises institutions of localized monetary exchange. Sometimes considered a backlash against global capitalism or economic globalization, fiscal localism affords voluntary, market structures that help communities trade more efficiently within their communities and regions. Fiscal localism "Buy local" or local purchasing is the most visible face of fiscal localism. There are more complex institutions (both new and well established) that contribute to a community's ability to flourish. Institutions like credit unions, CDFI's (Community Development Financial Institutions), and local currency or complementary currency all can contribute to making communities more resilient and wealthy. Local currency has been in the news most, with journalists citing the Berkshares in Massachusetts, and the Ithaca Hours in Ithaca, New York. Beyond these salient examples, there are thousands of local currencies all over the world. Fiscal localism is rooted in the concept of decent ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Global Capitalism
Capitalism is an economic system based on the private ownership of the means of production and their operation for profit. Central characteristics of capitalism include capital accumulation, competitive markets, price system, private property, property rights recognition, voluntary exchange, and wage labor. In a market economy, decision-making and investments are determined by owners of wealth, property, or ability to maneuver capital or production ability in capital and financial markets—whereas prices and the distribution of goods and services are mainly determined by competition in goods and services markets. Economists, historians, political economists and sociologists have adopted different perspectives in their analyses of capitalism and have recognized various forms of it in practice. These include ''laissez-faire'' or free-market capitalism, anarcho-capitalism, state capitalism and welfare capitalism. Different forms of capitalism feature varying degr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Local Multiplier Effect
The local multiplier effect (sometimes called the local premium) is the additional economic benefit accrued to an area from money being spent in the local economy. The concept has been taken up by advocates for "spend local" campaigns in addition to more formal treatments in the area of regional economic development. Use in local spending campaigns One perspective of the local multiplier effect focuses on the greater local economic return generated by money spent at locally-owned independent businesses compared to corporate chains or other absentee-owned businesses. Localisation advocates cite the multiplier effect as one reason, of many, for consumers to do more of their business locally. Two U.S.-based entities have published studies measuring the local multiplier. Civic Economics, a for-profit economic consultancy, has undertaken studies in Austin, TX, San Francisco, CA; Chicago, IL and Western Michigan. The Institute for Local Self-Reliance, a non-profit organization, execu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Informal Sector
An informal economy (informal sector or grey economy) is the part of any economy that is neither taxed nor monitored by any form of government. Although the informal sector makes up a significant portion of the economies in developing countries, it is sometimes stigmatized as troublesome and unmanageable. However, the informal sector provides critical economic opportunities for the poor and has been expanding rapidly since the 1960s. Integrating the informal economy into the formal sector is an important policy challenge. In many cases, unlike the formal economy, activities of the informal economy are not included in a country's gross national product (GNP) or gross domestic product (GDP). However, Italy has included estimates of informal activity in their GDP calculations since 1987, which swells their GDP by an estimated 18% and in 2014, a number of European countries formally changed their GDP calculations to include prostitution and narcotics sales in their official GDP sta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Community-based Economics
Community-based economics or community economics is an economic system that encourages local substitution. It is similar to the lifeways of those practicing voluntary simplicity, including traditional Mennonite, Amish, and modern eco-village communities. It is also a subject in urban economics, related to moral purchasing and local purchasing. The community-based economy can refer to the various initiatives coordinated through multiple forms of interactions. These interactions may involve some form of work performance; project participation; and/or relationship exchange. The forms of interaction can exclude the need to contract; can do away with the need to include some form of monetisation; as well as be free from the need to establish a structure of hierarchy. Community-based economies have been seen to involve aspects of social bonding; value promotion; and establishing community-orientated social goals. It has been suggested that communities that meet their own needs need the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Community Currency
A community is a social unit (a group of living things) with commonality such as place, norms, religion, values, customs, or identity. Communities may share a sense of place situated in a given geographical area (e.g. a country, village, town, or neighbourhood) or in virtual space through communication platforms. Durable good relations that extend beyond immediate genealogical ties also define a sense of community, important to their identity, practice, and roles in social institutions such as family, home, work, government, society, or humanity at large. Although communities are usually small relative to personal social ties, "community" may also refer to large group affiliations such as national communities, international communities, and virtual communities. The English-language word "community" derives from the Old French ''comuneté'' ( Modern French: ''communauté''), which comes from the Latin '' communitas'' "community", "public spirit" (from Latin ''communis'', "c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cooperatives
A cooperative (also known as co-operative, co-op, or coop) is "an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly owned and democratically-controlled enterprise".Statement on the Cooperative Identity. '' International Cooperative Alliance.'' Cooperatives are democratically controlled by their members, with each member having one vote in electing the board of directors. Cooperatives may include: * businesses owned and managed by the people who consume their goods and/or services (a [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Credit Union
A credit union, a type of financial institution similar to a commercial bank, is a member-owned nonprofit financial cooperative. Credit unions generally provide services to members similar to retail banks, including deposit accounts, provision of credit, and other financial services. In several African countries, credit unions are commonly referred to as SACCOs (Savings and Credit Co-Operative Societies). Worldwide, credit union systems vary significantly in their total assets and average institution asset size, ranging from volunteer operations with a handful of members to institutions with hundreds of thousands of members and assets worth billions of US dollars. In 2018, the number of members in credit unions worldwide was 274 million, with nearly 40 million members having been added since 2016. Leading up to the financial crisis of 2007–2008, commercial banks engaged in approximately five times more subprime lending relative to credit unions and were two and a ha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Barter
In trade, barter (derived from ''baretor'') is a system of exchange in which participants in a transaction directly exchange goods or services for other goods or services without using a medium of exchange, such as money. Economists distinguish barter from gift economies in many ways; barter, for example, features immediate reciprocal exchange, not one delayed in time. Barter usually takes place on a bilateral basis, but may be multilateral (if it is mediated through a trade exchange). In most developed countries, barter usually exists parallel to monetary systems only to a very limited extent. Market actors use barter as a replacement for money as the method of exchange in times of monetary crisis, such as when currency becomes unstable (such as hyperinflation or a deflationary spiral) or simply unavailable for conducting commerce. No ethnographic studies have shown that any present or past society has used barter without any other medium of exchange or measurement, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
London
London is the capital and List of urban areas in the United Kingdom, largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary down to the North Sea, and has been a major settlement for two millennia. The City of London, its ancient core and financial centre, was founded by the Roman Empire, Romans as ''Londinium'' and retains its medieval boundaries.See also: Independent city#National capitals, Independent city § National capitals The City of Westminster, to the west of the City of London, has for centuries hosted the national Government of the United Kingdom, government and Parliament of the United Kingdom, parliament. Since the 19th century, the name "London" has also referred to the metropolis around this core, historically split between the Counties of England, counties of Middlesex, Essex, Surrey, Kent, and Hertfordshire, which largely comprises Greater London ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Theresa May
Theresa Mary May, Lady May (; née Brasier; born 1 October 1956) is a British politician who served as Prime Minister of the United Kingdom and Leader of the Conservative Party from 2016 to 2019. She previously served in David Cameron's cabinet as Home Secretary from 2010 to 2016, and has been Member of Parliament (MP) for Maidenhead in Berkshire since 1997. May is the UK's second female prime minister after Margaret Thatcher, and is the first woman to hold two of the Great Offices of State. Ideologically, May identifies herself as a one-nation conservative. May grew up in Oxfordshire and attended St Hugh's College, Oxford. After graduating in 1977, she worked at the Bank of England and the Association for Payment Clearing Services. She also served as a councillor for Durnsford in Merton. After two unsuccessful attempts to be elected to the House of Commons, she was elected as the MP for Maidenhead at the 1997 general election. From 1999 to 2010, May held several roles in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nigel Farage
Nigel Paul Farage (; born 3 April 1964) is a British broadcaster and former politician who was Leader of the UK Independence Party (UKIP) from 2006 to 2009 and 2010 to 2016 and Leader of the Brexit Party (renamed Reform UK in 2021) from 2019 to 2021. He was Member of the European Parliament (MEP) for South East England from 1999 until the United Kingdom's exit from the EU in 2020. He was the host of ''The Nigel Farage Show'', a radio phone-in on the Global-owned talk radio station LBC, from 2017 to 2020. Farage is currently the Honorary President of Reform UK and a presenter for GB News. Known as a prominent Eurosceptic since the early 1990s, Farage campaigned for the United Kingdom's withdrawal from the European Union. Farage was a founding member of UKIP, having left the Conservative Party in 1992 after the signing of the Maastricht Treaty, which furthered European integration and founded the European Union. After campaigning unsuccessfully in European and Westm ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
