W. Trexler Proffitt Jr. has hit the big time.
The Franklin & Marshall College professor, who announced his proposal in October for a seven-county, regional stock exchange, was recognized last month for his brainstorm by The New York Times Magazine’s eighth annual Year in Ideas issue.
Proffitt, who was interviewed for the piece, said he just finished a research study on the stock exchange and plans to spend the coming year trying to get local business and political leaders on board so the project can move forward.
He calculates the exchange would pump hundreds of millions of dollars into the regional economy, creating thousands of jobs in the process.
The Lancaster Sustainable Stock Exchange, or LanX, would cover Lancaster, York, Berks, Dauphin, Lebanon, Cumberland and Perry counties.
“Small businesses need funding options more than ever in today’s recessionary climate,” Proffitt told the magazine.
“Globalization has been advantageous, but we’re starting to see the sacrifices we’ve made,” he continued. “People are interested in figuring out how to connect to their local communities again.”
OK. Why not stock and commodity exchanges in every city, for every city?