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27.11.09

Money Dreckly



The CD has received the response below from the campaign group -Equality Trust- to an e-mail titled: The poorest region of the UK? Cornwall! 

I'm afraid we don't have anything very relevant as our focus is inequality rather than poverty, except to say that when countries are very unequal - as it the case in the UK - it is the poorest communities that suffer the most. If the gap between the highest and lowest earners was halved the whole of society would benefit, but the most significant gains in health and wellbeing would be concentrated among the least well off.

Good luck with your work and very best wishes

So how about some Slow Money as a solution to Cornwall's problems? A way of promoting Cornish business and retaining more of our money in the Duchy. Note that the related campaign, Slow Food,  is already up an running in Kernow. Both the campaigns fit perfectly into the logic of -Small is Beautiful- which is opportune as I've just received E. F. Schumacher's landmark book by the same name. The principles of Slow Money can be found below and please notice the focus on hyper-local investment to support business in your back yard.


In order to enhance food security, food safety and food access; improve nutrition and health; promote cultural, ecological and economic diversity; and accelerate the transition from an economy based on extraction and consumption to an economy based on preservation and restoration, we do hereby affirm the following Principles:

I. We must bring money back down to earth.

II. There is such a thing as money that is too fast, companies that are too big, finance that is too complex. Therefore, we must slow our money down -- not all of it, of course, but enough to matter.

III. The 20th Century was the era of Buy Low/Sell High and Wealth Now/Philanthropy Later—what one venture capitalist called “the largest legal accumulation of wealth in history.” The 21st Century will be the era of nurture capital, built around principles of carrying capacity, care of the commons, sense of place and non-violence.

IV. We must learn to invest as if food, farms and fertility mattered. We must connect investors to the places where they live, creating vital relationships and new sources of capital for small food enterprises.

V. Let us celebrate the new generation of entrepreneurs, consumers and investors who are showing the way from Making A Killing to Making a Living.

VI. Paul Newman said, "I just happen to think that in life we need to be a little like the farmer who puts back into the soil what he takes out." Recognizing the wisdom of these words, let us begin rebuilding our economy from the ground up, asking:

What would the world be like if we invested 50% of our assets within 50 miles of where we live?

What if there were a new generation of companies that gave away 50% of their profits?

What if there were 50% more organic matter in our soil 50 years from now?


Currently Slow Money is only running in the USA however the idea has potential for other regions of the globe and why not Kernow?

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