By far the question that comes up most is: how is this going to be funded? There is no simple answer, but the three keys—expanding how we measure to include quality of life, expanding to include a Local Community Capacity work sector, and expanding wealth accumulation options—set the stage for innovative funding for an Integrative Economy and specifically for Integrative Community Ventures businesses.
Local Community Boards: A first step is the creation of a Local Community Board to bring people together for community discussions. How will we measure the quality of life we want? How many ICV businesses are needed? Which wealth expansion options will this community include? Every community will have to measure for the quality of life it determines necessary—different in big cities than in small towns—and it starts with community conversations. We can’t develop funding if we don’t know what we need.
Believe in the power of community: It can be amazing what a small group of people can create. As Margaret Mead observed long ago, that is how the world has always changed. We are now that next community.
Initial-Phase Ideas
At this stage, large investors may be needed to shift significant funds into the LCC and LCB infrastructure—investors who see their investment in launching ICV-type businesses as a way to facilitate economic transformation, not strictly personal financial growth.
- Public and private foundations: Foundations are today’s strongest supporters of local community development; they could infuse funds into ICV businesses through local LCBs as a prime funding source.
- Large corporations: Corporations could fund ICVs directly—for example, hiring the partners of their employees—providing secondary support for their workforce, receiving potential tax breaks, and gaining a more satisfied workforce.
- Small business cooperatives: Local small businesses could come together to fund ICVs, knowing much of that money will circulate locally and return through business transactions.
- State or local government: Funds currently directed to social service nonprofits could be redirected into ICV businesses, eventually supporting greater economic self-sufficiency in the community.
- An Integrative Economy Development Act (“PI Bill”): Federal legislation focused on private investment, along the lines of the Servicemen’s Readjustment Act (the GI Bill).
- An AI sovereign fund: As AI businesses grow and profit, a portion of that profit could be shared with the community at large—on which AI’s success depends.
New Wealth Accumulation Options
- National Volunteer Service: ICV employees could take a portion of their income in volunteer-service credit, registered alongside Social Security and convertible into value after age sixty-two. (This would require federal legislation.)
- Local currency: A community could fund ICVs partly in local currency, with local businesses accepting it for basics like food and rent. Local currency is meant to be spent, not saved—its value is in exchange.
- Time dollars: A currency that lets people trade skills at equal value—a plumber banks four hours helping a senior and spends them later on four hours of carpet cleaning—building a thriving network of skilled community members finding each other.
- Diverse salary options: ICV staff might be paid in a mix—some federal dollars, some time dollars, some local currency—living out one of the tenets of an Integrative Economy.