Not exclusively, but the bulk of our local economy should be covered by local currencies, which is more efficient than having global currencies which lose connection with reality in the markets, shops and communities of the people.

But we can also take the radical view that the test of an economy has to do with the extent to which it is providing everybody with a decent means of living.

Global competition is about winners and losers.

There is no visible sign that the current politicians in the US are willing to see the need for change.

There was a time in the United States when most of our financial institutions were local. Which essentially meant that local communities were able to create their own credit, or their own money, in response to their own needs. We still depended on banks, but it was a much more democratic process.

The proper goal of an economic democracy agenda is to replace the global suicide economy ruled by rapacious and unaccountable global corporations with a planetary system of local living economies comprised of human-scale enterprise rooted in the communities they serve and locally owned by the people whose wellbeing depends on them.

There is a huge shift taking place in the global awareness in the last 5 years with strong views about globalization and the power structures of major corporations.