In this episode, Capital Insight co-hosts and securities attorneys Jenny Kassan and Michelle Thimesch talk with Michael Shuman, economist, attorney, author, and entrepreneur, and a leading visionary on community economics. Michael is one of our nation’s leading thinkers, speakers, and writers on the movement to move money from Wall Street to Main Street.
“What I see now are a number of unhealthy mutations in our capital system, where most of the money is going to Wall Street, even though Wall Street and the companies it represents are a relatively small fraction of our economy – and the vast majority of our economy, which is occupied by local businesses and institutions, gets little to none of our investment money. If we can fix that, I believe we can fix a whole bunch of other problems that we face.”
“More than a million Americans of our 330 million population are actively involved in investment crowdfunding; that is significant, but it’s still less than 1% of the population. To go further, we need a lot of education.”
Michael Shuman works on community-based solutions rooted in local markets, small business and devolution and is the author of the acclaimed Going Local: Creating Self-Reliant Communities in a Global Age. Former Co-Director of the Institute of Policy Studies, Shuman founded the Center for Innovative Diplomacy, an 8,000-member nonprofit organization dedicated to promoting global peace, justice, development, and environmental protection through direct citizen and city participation in international affairs.
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Intro and outro are voiced by Marina Verlaine. She can be contacted at email@example.com