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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John Prescott on Labour: “This must be the worst operation I’ve ever seen”

The Labour peer and former deputy prime minister laments his party’s “civil war status”, saying “I wish Momentum would go away”.

I’ve attended a thousand PLP meetings. This must be the worst operation I’ve ever seen. It is more about personality politics than in the past.

The [last] Labour government was successful in most of the issues that we always thought was important to Labour: in the growth of the hospitals, the education system, the economy, people at work. All that was a successful record.

Not that it’s ever mentioned now. It was soured largely by Iraq. That period is almost obliterated by that. So you find present government, or even present leadership, in no way refers to that period of the Labour government. So the real problem is, if you’re disowning the most successful three periods of a Labour government, then you’re in some difficulty as to what you’re replacing it with.

It’s never happened before – it’s open war, civil war, inside the PLP. Some members in the PLP sit there with their social media, already typing out the fight going on to the mass of reporters who are amassed outside and told to come along and report because there’s going to be a big row. All that means we can’t really have unity. The division now is the attack on the leadership. A core who sit in the same places, make the same accusations against the leadership, right or wrong, every bloody week. They do it by a death of a thousand cuts – keep on making the same complaints.

I just think that the PLP is in civil war status. It’s not carrying out what it should do – that is, project Labour’s policies and be supportive of our people in the field.

All this criticism is about removing him. And then what adds to that is when Tom Watson comes along and joins in with this criticism. He’s entitled to do so, but he is the Deputy Leader, for God’s sake – quite different from the way I saw the role as defined; to support the party in a positive way, right. Get out and increase his membership, etc.

And the Leader, he's faced with a really difficult position, because he was elected and had never been a minister before. My heart went out to him when he had to deal with PMQs. Even with my 50 years, I found it impossible and fell on my face a few times.

We have a shadow cabinet now – cor blimey, you can be in the shadow cabinet in 12 months! You do need to have a bit of experience. So that does affect it, without a doubt. Then you get people on one side who refuse to serve in the shadow cabinet criticising the shadow cabinet. If you join the shadow cabinet, you’re a traitor to one cause or the other.

It's how you manage that division. The leadership is critical – for Jeremy to go out and do all of these things when he’s not been a minister is difficult. I think he’s been improving in doing the job. But frankly, it gets into people’s minds in a very short period of time, whether they think you’re the leader or not. And we do have a dilemma. It’s difficult for him – he’s reaching out a bit now, but almost the list has been drawn. I can’t see these people coming across now and uniting in the name of the party, supporting our people out in the elections. If you can’t unite the party, how the hell can you carry the country?

There are problems on the left and problems on the right, but we’ve always managed them – especially in the PLP. Robust arguments. But now it’s the battlefield, and all that comes out is a divided party.

I’m an old Labour man, right, I’m Labour to the core. To sit and watch it waste away its great reputation, what it’s done for our people in the country, and then when our people start stopping to vote for us, you’ve got to ask what’s bloody going wrong.

What Jeremy does is his decision. But he’s made clear he wants to stay. Now, if that stays the same, and the others stay the same, we’re going to have a stalemate divided Labour party – it’s disastrous.

So on the one hand, the PLP could try to be a little bit more supportive, and to recognise the party’s elected a leader, or they can go through the same process come June and call for another election, put it to the vote. They’re the options given to us by our party.

Our bloody country is decimated and we’re talking about the fucking sponsorship rules for the election of leader! I wish Momentum would go away, they’ve given us the same problems we had with Militant. I don’t think they’re as powerful as Militant, but they’re dedicated to the same cause. Their debate is how you change the Labour party.

By Christ, we can't win like this! I’m an old-fashioned type, and I’m proud to have belonged to a team that did win three elections. There was no other leader who did that before. But I don’t put it down to leaders, I put it down to the nature of the party. We’re responsible, not the leaders.

John Prescott is a Labour peer and former deputy leader of the Labour Party.

As told to Anoosh Chakelian.

This article first appeared in the 30 March 2017 issue of the New Statesman, Wanted: an opposition