|
Instead of relying on the widely criticized and problematic “paycheck protection program” designed to prop up small businesses and their workers, The Democracy Collaborative's vice president Marjorie Kelly and research director Thomas M. Hanna call in Next City for the creation of “local economy preservation funds.” These holding companies would acquire an ownership interest in distressed businesses and hold it until the business can be returned to health under some form of local, worker or community ownership. This would be a way to save local businesses at scale, while also creating a more equitable and democratic economy out of the ashes of the old.
|