In this episode, Local Bites interviews Stacy Mitchell of the Institute for Local Self-Reliance to talk about the multiple social, economic and environmental benefits of local business ownership and community-scaled financial institutions. Mitchell lays out the evidence for why local ownership matters, and provides a thorough debunking of the idea that large, global corporations are more efficient or create more jobs than smaller-scale, community-rooted enterprises. After warning listeners about the growing consolidation of economic power in the hands of fewer and fewer global corporations, Mitchell exposes the policy decisions that have led to such concentrated ownership. She concludes by highlighting several promising initiatives from the growing localization movement, and articulating the key components of a 'localist policy agenda'.