Over on Small-Mart: Ideas and Tools for Building Healthy Local Economies, economist Michael Shuman is talking about a different way to stimulate the U.S. economy: local stock exchanges and micro-equity investments.
In his article, Local Stock Exchanges and National Stimulus, Shuman makes the case for reforming old laws that could open up local businesses to local investors.
Outdated federal securities laws have left Main Street dangerously dependent on Wall Street, and overhauling them may well be a key to economic revitalization. The good news is the local businesses could get a huge investment boost with some modest securities reforms that would cost little or nothing.
It's a thorough piece that does an excellent job of explaining why and how local stock exchanges might work, and why they don't exist today. For more thoughts on how the U.S. can nurture local economies and micro-equity, head to Small-Mart.org.
Hat tip to Alex's Twitter feed (@AlexSteffen) for this great resource
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