Local Futures Podcast Go Local! How to beat the economists at their own game – Michael Shuman
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Nov 16, 2024 
Michael Shuman, a Stanford-trained lawyer and renowned expert in local finance, dives into the flaws of globalist economic strategies. He advocates for prioritizing community well-being over GDP, highlighting new metrics that foster local resilience. Shuman critiques the trend of offering incentives to large corporations, instead championing local businesses as engines of sustainable job growth. He also discusses how these businesses can adapt to modern challenges, emphasizing the importance of supportive policies for community development.
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Community Level Economics Missing
- Economics traditionally ignores the community level, focusing only on firms and nation-states.
- Creating principles for community economics is essential for a healthy economy.
Measure Success Differently
- Change success measures from GDP to self-reliance and community ownership.
- Localizing service and non-durable goods is key to building resilient local economies.
Local Business Beats Corporate Attraction
- Attracting outside corporations is expensive and ineffective for job creation.
- Local businesses create more jobs, wealth, and community benefits at much lower costs.
