Globalization is creating economic insecurity and increasing the gap between rich and poor. At the same time, it is undermining Cultural Diversity and turning complex ecosystems into streams of standardized commodities.
A farmer's market in downtown Portland.
Bioregional economies reflect the capacities and limitations of their particular ecosystems, honor the Cultural Diversity, and meet Fundamental Needs as locally as possible. Bioregional economies are diverse, resilient, and decentralized. They minimize dependence on imports while focusing on Value-Added Production exports. Paradoxically, this gives them an important competitive advantage in a global economy, allowing them to trade on favorable terms without sacrificing their economic sovereignty in the process.
Bioregional economies recognize the need for Fair Trade, refraining from importing or exporting goods produced unfairly or in an ecologically destructive manner. They make a transition to True Cost Pricing, building actual social and environmental costs into market prices. In order to provide independent certification of product attributes (e.g. sustainably harvested, fair trade, organic, shade grown, green power), they promote Product Labeling.
Bioregional economies do not deplete their own Society, Nature, or Capital. They export only their sustainable surplus, most often taking the form of intellectual property or high-value products and services rather than bulk commodities. Their Sense of Place becomes the key component of their brand identity. In the coastal temperate rainforest, products evocative of place include Copper River salmon, Tillamook cheese, Willamette Valley wine, and Walla Walla onions.
Bioregional economies can have vastly different mixes of local foods, energy sources, building materials, land-uses — all responding to the possibilities of place. However, their underlying design principles are remarkably consistent. Together they form an interdependent, mutually beneficial Reliable Prosperity at the global scale.
Bioregions need to reclaim a strong measure of economic sovereignty by becoming more self-sufficient and trading on their own terms. They can create economies that celebrate and mirror local ecosystems and cultures.