Saturday, September 24, 2011

A Grassroots Stimulus Program

In a deeply divided nation, the one thing we can agree upon is the need for jobs. The economy cannot recover until millions of people are put back to work and consumer spending once again flows. But it’s doubtful that any meaningful job-spurring policy will surmount the political gridlock in Washington.

Don’t look to Corporate America for salvation either: our biggest and most profitable corporations are sitting on piles of cash pile while focusing their investments overseas. And Wall Street is too busy chasing trading profits to engage in the kind of productive capital-raising that was once its mainstay.

So how are we going to begin rebuilding the broken economy and creating jobs? Where is the investment going to come from? One answer is taking shape in dozens of towns and neighborhoods across the country, as citizens from Brooklyn, NY to Port Townsend, WA are figuring out ways to invest in the local businesses that create jobs and help build strong local economies.

Read the rest of my guest blog post on CNBC's Bullish on Books. 

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