Cashing in on cow shares!

There are local alternatives to the excesses of global capitalism

I am so excited. An investment opportunity I have been anticipating for some time has finally opened up. Nick Rodway, a local farmer who along with his wife Pam has devoted his working life to the production and promotion of organic food and ethical farming, has just called to offer me a share in his dairy herd.

Nick and Pam launched the "Cow Shares" scheme some years ago as a way of raising capital so that they could expand their dairy herd. The herd of 18 head of Ayrshire cattle produces milk of the highest quality with which Pam and Nick make wonderful traditional Scottish cheeses.

Nick and Pam were disinclined to go to the bank. This was for both pragmatic and ideological reasons. On the one hand, there was a natural desire to escape punitive interest rates and bank changes. On the other, Nick and Pam are dedicated to supporting their local economy and to promoting resource flows locally rather than seeing the community’s wealth haemorrhaging out.

So, rather than applying for a bank loan and facing the prospect of watching their interest payments wander off across the globe to finance all kinds of destructive, industrial practices that they have dedicated their lives to replacing, they turned to their home community.

The idea is very simple. A £500 investment buys a share in the dairy herd. This is a five-year loan to the farm, with eight percent annual interest paid in the form of a combination of cheese and manure, according to the preference of the investor. This system creates bonds of affection between the farm and its neighbouring community, raises capital for the farmer and helps in the reconstruction of the local economy – keeping resource flows local and on a human scale. Perhaps even more important, this kind of scheme represents a playful alternative to the anonymity of global markets, providing a gentle reminder that people can still take a measure of economic power into their own hands.

Today, there are many such shares systems operating according to similar principles all over the world. The idea originated in the celebrated case of Deli Dollars in Great Barrington, Massachusetts. When a local delicatessen owner was refused a bank loan to finance an extension, he turned to his clientele. He issued "deli dollars" – refundable over the course of the following year – to the value of $5,000. In this way, his customers pre-financed the extension. In return, he was guaranteed $5,000 worth of custom and his delicatessen grew even more in the affection and esteem of its local community. What is more, the deli dollars started doing the rounds as an alternative currency, even turning up in the collection plate of a local cleric who was known to have a taste for the deli’s pizzas.

From Manhattan to the Moray Firth, local economic experimentation is alive and well. As the monster that is global capitalism gorges on the obscenity of its own excesses, small-scale, decentralised alternatives are already at work, re-weaving the web of community and ecology. Long live Cow Shares!

Jonathan Dawson is a sustainability educator based at the Findhorn Foundation in Scotland. He is seeking to weave some of the wisdom accrued in 20 years of working in Africa into more sustainable and joyful ways of living here in Europe. Jonathan is also a gardener and a story-teller and is President of the Global Ecovillage Network.
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The US intelligence leaks on the Manchester attack are part of a disturbing pattern

Even the United States' strongest allies cannot rely on this president or his administration to keep their secrets.

A special relationship, indeed. British intelligence services will stop sharing information with their American counterparts about the Manchester bombing after leaks persisted even after public rebukes from Amber Rudd (who called the leaks "irritating") and Michael Fallon (who branded them "disappointing").

In what must be a diplomatic first, Britain isn't even the first of the United States' allies to review its intelligence sharing protocols this week. The Israeli government have also "reviewed" their approach to intelligence sharing with Washington after Donald Trump first blabbed information about Isis to the Russian ambassador from a "close ally" of the United States and then told reporters, unprompted, that he had "never mentioned Israel" in the conversation.

Whether the Manchester leaks emanate from political officials appointed by Trump - many of whom tend to be, if you're feeling generous, cranks of the highest order - or discontent with Trump has caused a breakdown in discipline further down the chain, what's clear is that something is very rotten in the Trump administration.

Elsewhere, a transcript of Trump's call to the Philippine strongman Rodrigo Duterte in which the American president revealed that two nuclear submarines had been deployed off the coast of North Korea, has been widely leaked to the American press

It's all part of a clear and disturbing pattern, that even the United States' strongest allies in Tel Aviv and London cannot rely on this president or his administration to keep their secrets.

Stephen Bush is special correspondent at the New Statesman. His daily briefing, Morning Call, provides a quick and essential guide to British politics.

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