Word: localizes
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...White House and the Kremlin once transfixed the world, as competing superpowers, ideologies and worldviews clashed. But when Barack Obama visits Moscow on July 6, it will be something of a rarity for the U.S. President: a rather dull trip. Obama will encounter no cheering crowds or overly excited local media. His hosts, Russian President Dmitry Medvedev and Prime Minister Vladimir Putin, will be no more than coolly polite. The end of the visit is unlikely to be marked by grand declarations of friendship or announcements of breakthrough deals. Indeed, experts on both sides say the area where progress...
...panel believes the firm's "grounds for claiming copyright are questionable and ethically dubious." Little wonder that Johnson Sirleaf struggles. "The President's default position is to do the right thing," says the diplomat. "When she makes the wrong decision - and it does happen - it is because the local political pressure is overwhelming...
...With local economies flailing, communities across the U.S. are trying to drum up more action on Main Street. "Buy Local" campaigns are one way to go. But many towns--from Ojai, Calif., to Greensboro, N.C.--are considering going a step further and printing money that can only be spent locally...
Issuing an alternative currency is perfectly legal, as long as it is treated as taxable income and consists of paper bills rather than coins. In the U.S., where local currencies were popular during the Depression, the biggest alterna-cash system is in Massachusetts' Berkshire County. Go to one of several banks there, hand a teller $95 and get back $100 worth of BerkShares, a nice little discount designed to reel in users. BerkShares are printed on special paper (by a local business, naturally--a subsidiary of Crane Paper Co., which has been printing U.S. greenbacks since 1879). And since...
What's the point of all this pretty, community-printed currency? Money spent at locally owned companies tends to create more business for local suppliers, accountants, etc. The New Economics Foundation (NEF), a London think tank, compared the effects of purchasing produce at a supermarket and at a farmer's market and found that twice the money stayed in a community when folks bought locally. A study of Grand Rapids, Mich., released last fall by consulting firm Civic Economics, concluded that a 10% shift in market share from chain stores to independents would yield 1,600 new jobs and pump...