Local Dollars, Local Sense: How to Shift Your Money from Wall Street to Main Street and Achieve Real Prosperity

Economist and entrepreneur Shuman (The Small-Mart Revolution) provides a convincing argument that the general public should be allowed to invest in small businesses. Today, millions of Americans are reluctant to trust a rickety Wall Street with their retirement assets or savings for their kids’ education, and instead, they’re interested in investing locally, especially since small businesses are more profitable that larger corporations. However, less than one percent of Americans’s long-term savings touches local small business, which means that Americans are systematically overinvesting in Wall Street and under-investing in Main Street. Shuman offers the average investor attractive alternatives that comply with securities laws, but allow for investing in neighborhood cooperatives, and more. In addition, he explores the challenges of securing institutional lending, and shares valuable insights about how local businesses have deployed creative investment strategies to avoid or reduce the costs of security law compliance, how local investors can pool together to diversify their risks, and how individuals can earn superior returns from investing in their own bank, home, and energy efficiency. Shuman’s accessible book will help investors of all backgrounds take action. (Mar.)