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Ithaca Local Economy Lab -- Radical Experiments in Business and Community

Ithaca Local Economy Lab -- Radical Experiments in Business and Community

Written by: Dia local economy nerd
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Ithaca Local Economy Lab Real experiments in 'radical' alternative economics — from one unusually interesting small city

Ithaca, NY once printed its own money. Ithaca HOURS circulated for decades, valuing a plumber's hour the same as a professor's, keeping millions of dollars of spending power inside the community. It was radical. It worked. And it was just the beginning.

Today, a worker cooperative runs one of the best-loved coffee shops in town. A shared commercial kitchen has made food entrepreneurship accessible to people who couldn't otherwise afford the infrastructure. A fiber cooperative is doing the slow, deliberate work of rebuilding a regional textile economy from sheep to shelf. An antique mall operates as a genuine community enterprise. A local business runs on gifting — and is still standing.

Ithaca Local Economy Lab documents these experiments across regenerative, circular, solidarity, and gifting economies. Hosted by Dia, local economy nerd and community-minded neighbor, each episode is a real conversation with the people inside one of these models. The reality of how it was built, how it's financed, what it's taught them, where things went wrong, and how others can learn the lessons.

Inside the show:

  • Ithaca HOURS: the local currency that kept money working locally and what it proved

  • LocalFiber: regenerative fiber production and a blueprint for local textile economies

  • Shared Kitchen Ithaca: circular infrastructure that removes the capital barrier from food entrepreneurship

  • Gimme Coffee Cooperative: solidarity ownership in daily practice, governance, profit-sharing, hard decisions

  • Found in Ithaca: what happens when an antique mall becomes a genuine community enterprise

  • The gifting economy: one Ithaca business proving generosity can be a sustainable model

For entrepreneurs in smaller cities building something that lasts. For curious people who want examples over arguments. For anyone who's ever thought: the economy is a design, not a law of nature — so who gets to redesign it?

Ithaca has been answering that question for over thirty years. Come listen.

📅 New episodes monthly on the first Thursday 🌐 IthacaLocalEconomyLab.com ⭐ Support independently: patreon.com/Practicalmuse

Practically Real Enterprises, LLC Economics Social Sciences
Episodes
  • Ithaca HOURS - The Most Important Economic Experiment You've Never Heard Of

    Ithaca HOURS - The Most Important Economic Experiment You've Never Heard Of
    May 8 2026

    What If Your Town Printed Its Own Money — And It Actually Worked?

    In 1991, as the U.S. economy stumbled through recession, a community organizer in Ithaca, New York did something radical: he printed money. Not counterfeit dollars — something more interesting. A labor-backed local currency called Ithaca HOURS, where one note equaled one hour of work, equaled ten dollars, and could only be spent right here in town.

    For more than two decades, it worked.

    In this episode, Dia sits down with Steve Burke, former president and board member of Ithaca HOURS, for an honest, detailed account of what happened.

    The Problem Ithaca HOURS Was Built to Solve

    Ithaca in the early 1990s was a town of wage struggle and economic anxiety. Workers were paid too little. Dollars flowed in, then immediately flowed out to distant corporations. Local businesses competed against national chains with no structural advantage.

    Paul Glover, the currency's founder, understood that money is not inherently valuable. It is valuable because a community agrees it is. If a community could agree to believe in something new, and back it with real labor and goods, they could create economic gravity that kept wealth local.

    That insight became Ithaca HOURS.

    How You Build Trust in a Currency From Scratch

    Steve walks us through the unglamorous, essential work of building belief: community meetings, early adopter lists, handshake agreements with local businesses, and the slow accumulation of a directory that proved the currency could actually be spent.

    At its peak, over 500 businesses and thousands of individuals participated. HOURS funded loans to local entrepreneurs and grants to nonprofits. Music stores, bookshops, farmers, landlords, healers, and carpenters all joined the network.

    Why It Declined — And What Actually Killed It

    The decline of Ithaca HOURS wasn't a single failure, it was a collision of forces: the rise of credit cards (which made cash-adjacent systems feel clunky), the shift to online commerce (which rewarded national platforms over neighborhood networks), Paul Glover's eventual departure from Ithaca, and the organization's inability to transition from paper to a digital infrastructure.

    By 2015, Ithaca HOURS had wound down.

    The Questions This Episode Leaves You With

    Could it happen again? Steve thinks yes — but differently. Dia suggests perhaps a digital local currency with modern infrastructure, institutional backing, and a clear circulation strategy could address the structural weaknesses that paper HOURS couldn't.

    Steve raises something worth sitting with: as electronic currencies become more prevalent, the question of transparency and government oversight becomes urgent. Who controls the black box? Who audits the ledger? Community currencies of the future will have to answer those questions before they launch, not after.

    What You'll Take Away

    This conversation is part history lesson, part governance case study, part meditation on what money is really for. Whether you're curious about local economics, community resilience, alternative finance, or just a great Ithaca story — this episode delivers.

    🔗 Resources

    • Ithaca HOURS Archive
    • Alternatives Federal Credit Union
    • BerkShares — Local Currency in Massachusetts

    Ithaca Local Economy Lab is a podcast about the people, models, and ideas building a more resilient local economy — one conversation at a time.
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    51 mins
  • Found: One of the Most Radical Stores in Ithaca Doesn’t Look Radical at All

    Found: One of the Most Radical Stores in Ithaca Doesn’t Look Radical at All
    Apr 16 2026

    Vanessa Weber and Jeremiah Signo are turning a local antique mall into a thriving, community-centered enterprise through creative ownership, vendor collaboration, and strategic moves—all while navigating the challenges of small-town retail. This episode explores the intricate workings of their business model, the power of local relationships, and plans for expansion and community engagement.

    In this episode:

    • The origins of Found in Ithaca and Vanessa's vintage and antique passions
    • The unique buyout model used to acquire the business without traditional bank financing
    • Details of the operation: vendor-managed booths, commissions, and furniture sales
    • Challenges and strategies in relocating from an old building to a creatively refurbished space
    • The importance of local, community-driven economy and vendor relationships
    • Insights into the renovation process of Southworks and the collaborative design vision
    • The role of community support and small-town relationships in business success
    • Future plans: programming, community events, and space expansion
    • The significance of maintaining a welcoming, high-end boutique atmosphere
    • The intersection of local art, mutual aid, and sustainable retail practices

    Resources & Links:

    Found in Ithaca https://FoundinIthaca.com

    Facebook: https://www.facebook.com/foundinithaca/

    Instagram: https://www.instagram.com/foundinithaca/

    Patricia “Patty” Brown - https://integratedbv.com

    Creative ReUse - https://www.rachelfeirman.com/creativereuseofithaca

    Facebook https://www.facebook.com/p/Creative-Reuse-of-Ithaca-61575877676117

    Instagram https://www.instagram.com/creativereuseofithaca

    Ithaca Murals: https://www.ithacamurals.com

    Join the conversation and stay inspired about local economies and community-driven retail! http://IthacaLocalEconomy.com
    Show More Show Less
    1 hr and 10 mins
  • Is Shared Kitchen Ithaca the Future of Small Town Food Business?

    Is Shared Kitchen Ithaca the Future of Small Town Food Business?
    Apr 2 2026

    In this episode:

    • Rod Rotundi shares his diverse background in economic development and his journey to Ithaca
    • The origins and mission of Shared Kitchen Ithaca
    • How shared kitchens bolster local entrepreneurs
    • Examples of successful members, from bakers to hot dog vendors

    Resources & Links:

    https://www.sharedkitchenithaca.com

    https://www.sharedkitchenithaca.com/the-smorg

    https://www.facebook.com/thesmorgithaca

    https://www.instagram.com/thesmorgithaca

    https://greenstar.coop

    https://www.rochestercommissary.org

    https://ithacareuse.org

    http://farmtofeastny.com

    https://www.facebook.com/styxstreetfood/

    https://gardellasgoodies.com

    https://www.facebook.com/ithacabreadworks/

    https://lamexicanarestaurantandgrocery.com

    https://littlerambakery.com

    https://rashidasawyer.com

    https://www.wellspringforestfarm.com

    Resources & Links:

    • https://IthacaLocalEconomyLab.com
    • Jake Gribschaw https://www.linkedin.com/in/jgribschaw
    • Stacey Cornelius https://agencyofwords.com
    • Sonia Simone - https://remarkable-communication.com
    • Erin O'Shaughnessy - https://www.psychologytoday.com/us/therapists/erin-o-shaughnessy-depoe-bay-or/373808
    • Yen Ospina - http://yenospina.com
    • Carsie Blanton - http://carsieblanton.com

    Go deeper:

    • https://patreon.com/Practicalmuse
    Show More Show Less
    35 mins
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