Like Food, Does Money Need to Go Local?

Sep 22, 2008

The current Wall Street financial crisis has me thinking about potential parallels to food. Not long ago, the vast majority of Americans had little choice but to consume a diet dominated by industrially produced food. We were becoming the culture of Wonder Bread. But then some alternative ideas started to break through. Environmental groups raised concerns about the chemicals used in agriculture and the impact those chemicals had on soil, water and health. “Foodies” sought heirloom varieties of vegetables, heritage breeds of livestock, pasture-raised animals, locally produced foods and other culinary treasures. Community leaders recognized the quality of life benefits of agricultural open space, farmers markets and localized food systems. We still have a food system dominated by the centralized, industrial production model, but we also have local food, organic food, slow food, and many other labels and initiatives. People now have more choice in the food marketplace.

This exciting new food system is developing and booming because of the growing recognition that food is more than the body’s delivery system of protein, fats and carbohydrates. Appropriately produced food can provide many other benefits to communities, ecosystems and economies. Perhaps this is the reason that so many cultures and religions consider food to be sacred and perform rituals around food

—the benefits of good food are too numerous and far reaching to be quantified.

Money, on the other hand, is rarely thought of in such lofty terms. It is perceived to be simply a vehicle for facilitating commerce. And just like industrial farm equipment continues to get larger and more complicated, it has become even more difficult to comprehend exotic mortgages, derivatives and other schemes of finance.

Perhaps the looming financial collapse will create new relationships with money and more opportunities for people who want to avoid supporting the bizarre money-making schemes of Wall Street. Just as consumers now have a better opportunity to buy into local food systems, the time is ripe for a more localized money system that re-circulates money within the community. Will I soon be able to purchase a mortgage, insurance policies, and car loans with assurance that my loans and investments are being used to help others locally? Given what is happening on the international financial scene, I would pay a little more for that alternative.

Food security

Community-based food systems

Like Food, Does Money Need to Go Local?

Share this

Carbon Farming Won't Save the Planet

Corporate Climate Disclosure Rules: A Global Overview