Like many Americans, I’ve grown increasingly concerned about the dire economic news due to the COVID-19 outbreak. The impact has already put strain on communities across the nation, and it’s likely to get worse as the virus continues to spread. Worse yet, the damage will be difficult to mend, and its reverberations will be felt for years to come.
Recently I sat down to write a white paper illustrating one way local governments can help mitigate, or at least slow, the economic damage COVID-19 is wreaking upon our communities. While it was written using data from my home state of Wyoming, the ideas contained within the paper are applicable to most communities around the country. The strength of this system includes the following:
- It provides a path for local governments to quickly mobilize their community in economic revitalization efforts.
- It allows local control over local investment efforts while allowing for individual choice and the freedom to invest where one sees fit.
- It creates incentives for local investment and helps foster a sense of community solidarity during difficult times.
- It provides immediate opportunities for cash-poor businesses and under-employed individuals to become viable partners in the local economy.
Please feel free to download and share the document to those you feel might have need of it.
A special thanks to Charles Eisenstein, whose work brought some of these concepts to my attention.