Building a More Resilient Economy
Our fossil fuel driven global economy has provided the world with great material abundance, but it has also driven increasing levels of inequality, and has crippled the productive capacity of entire communities. Did you know that around two thirds of dollars spent by area residents go to businesses outside the region?
Here are some of the ideas we are working on to develop our region’s natural productivity, help retain and recirculate wealth within the community, and bring forth an economy where people interact instead of merely transact.
Everyone knows how a library works, but libraries don’t have to be limited to just books. Suppose you’d like to fix up or improve your house, garden, or yard– but you don’t have the tools to do it. Instead of spending a fortune on a bunch of equipment you may not use much in the future, you could borrow what you need from a tool library.
Your local tool library would be stocked with a range of equipment from hammers and screwdrivers all the way up to table saws and roto tillers, all ready to use. Donating your unused tools to the library would also be a great way to clear out the clutter in your garage or basement and put that stuff back into productive use!
A local currency for the Catskills region
One of the ways that communities can strengthen their economies is to add a local currency into the mix. A local currency basically works like a reusable gift certificate that is voluntarily accepted by businesses and individuals in a regional area. The idea is not so much to replace US Dollars but to supplement them with a currency that inspires us to spend our bucks in our own home towns.
Why does that matter? Because money spent here stays here. Did you know that when you buy something at a locally owned store, about 70% of your dollar stays in your own economy? That means more jobs, higher wages, more wealth for the area…
And local currency can help inspire folks who are visiting to spend their money here as well. That means money that’s brought into the area stays here, too…
Learn more about Catskills Dollars here!