Able Quote by David Korten
“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.”
About This Quote
Source Speech: Interview on community banking, 1995
Local credit systems let communities tailor money to their specific needs, fostering democratic economic participation.
In simple terms: Local banks give communities control over money.
Key Takeaway
Support local financial institutions.
Themes
democracy
finance
community
localism
Mood
reflective
optimistic
Type
analytical
inspirational
When to use this quote
- small town banking
- cooperative credit unions
- municipal bonds
- community development projects
Key Concepts
Economic decentralization
social capital
financial inclusion
Questions to Reflect On
- How can local credit coexist with national financial stability?
- What safeguards protect community banks from systemic risk?
A Different Perspective
Local systems may lack scale and resilience during crises.
