Sustainable Economy

Community Reinvestment WG is designed to redirect economic resources away from doing harm and toward doing good. To divest from Wall Street and reinvest in Main Street!

We now have an economic system which is becoming more and more unequal, unfair, unstable, and unsustainable. Our goal is to transition toward a society which becomes more and more fair and economically equal over time. Our success is measured in improved quality of life for all and reduced economic disparity between people, as well as a more sustainable environment.

The corporations on Wall Street and the lobbyists in Congress and K Street have no interest in creating healthier planet, or a healthier populace, or even a healthier economy. Their only interest in maximizing short term profits. In fact, stock exchanges around the world are all geared toward short term profits. It is a world-wide rigged system. Therefore we need a world-wide strategy to change the system so that it works for the people, the 99%, instead of only for the 1%. The Wall Street stock exchange itself is a fortress, protected more tightly than any bank, so maybe instead of trying to scale the walls and break down the barricades to Wall Street it is better to undermine it from within by starving its funding, namely to make the harmful corporations on Wall Street unprofitable, and lower their stock value.

How about taking money out of the hands of irresponsible multinational corporations, which have no commitment to either ethical values or to our local economies, and putting that money into the hands of socially responsible companies (social enterprises) to improve our quality of life, and our own local businesses to employ members of our local communities and to build up the tax base of our local communities? How about starting a Divestment/Reinvestment movement?

Divest from Wall Street! Invest in Main Street!

Here are some possible ways to make this happen:

1. Set of ethical business practices to evaluate businesses by.

2. An interactive shopping guide, Responsible Shopper, from Green America helps you figure out which companies to buy from and invest in.

3. Divest from and boycott harmful companies.

4. Invest in and buy from (buycotting) socially responsible companies.

5. Organize a day to divest-reinvest, such as Community Reinvestment Day. People can choose to either divest from all corporations on Wall Street or only from particularly harmful corporations. Encourage supporting socially responsible investment firms for those wishing a more traditional route.

6. Feature and honor people who make public announcements of divesting in Wall Street harmful businesses and investing in ethical businesses and local businesses on Main Street.

7. Collaborate with local banks, and credit unions to form special funds for community reinvestment. The local bank or credit union would make loans from these funds to local businesses and non-profits that meet certain criteria of ethical behavior, such as serving the local community. The community investors would receive a financial return on their investments.

8. Promote ethical economic models.  (Local Businesses, Social Enterprises, Worker Owned Cooperative Businesses, Local Currencies, Local Stock Markets, Local Banks, Credit Unions, CDCs, etc.)

9. Create a list of online ethical economic resources.

10. Remove government subsidies from harmful corporations. Take corporations off welfare!

11. Tax large corporations at a higher rate, based upon their profits and the amount of harm they cause.

12. Subsidize with government funds green tech and businesses which help improve the quality of life for all.