Saving for Change

Maybe what we need is a bank. Or, a bunch of banks. We activists are often so focused on policy and legislation that we forget the creation of new institutions that could start to make the changes we want. We in our private lives (I'm thinking I don't like to call us "consumers") are saving more, spending less of the money we are still receiving. This is not surprising, since so many are boomers who just saw the market blow away their prospects of retirement. It makes sense.

So we are saving our money into a system that should be putting it back into circulation as investment, which would be spending that both creates jobs and income and creates additional productivity for the economy. Developing capacity to produce solar panels, insulation, products from recycled materials, maybe. Improving agriculture in places closer to markets, maybe. But it doesn't seem to be quite getting there.

"They" in the financial institutions seem to be waiting for the market for debt-financed consumption to firm up so they can make loans back to us. If we don't want to go there so much any more, maybe there need to be some new lending institutions that are focused on investment in the traditional sense. I'm thinking of investment in capacity-building that's close to the ground. I'm thinking of the a bunch of new New Hampshire Community Loan Funds, or a whole lot of credit unions for community economic development. The money we save could be recycled into the community in ways that would get us going on the lower-carbon way of life we are needing to achieve.

If we turned our attention, not completely, but partly, away from trying to persuade other people to do things to shrink our carbon footprint, and toward building communities that actually have smaller footprints, wouldn't that be a good use of both our passion and our newfound thrift?