#84: Narratives, Local, and the Stories That Shape Finance

What stories shape what we believe is possible in finance? In this episode, Joy Anderson sits down with Joanna Levitt Cea, Founder and Principal of Valiente Capital Design and co-lead of the Beloved Economies Collaborative for Narrative Infrastructure, to explore the role of narratives in creating economic and systems change. Together, they unpack the difference between stories, communications strategies, and narratives themselves, examining how underlying cultural assumptions influence the ways we understand ownership, investment, opportunity, and power. The conversation explores why narrative change is not simply about finding the right message, but about collective action, organizing, and reshaping the stories that define what people believe is possible.

The episode then turns to one of the most common and often unquestioned words in innovative finance: local. Joy examines five distinct narratives embedded within the concept. Rather than treating local as a geographic descriptor, she argues that each narrative carries a different theory of change and implies different practices around governance, ownership, expertise, and value creation. Together, these reflections invite listeners to ask not whether finance is local, but what narrative of local is being invoked and whether the structures of finance actually make that narrative real.

Episode Highlights

00:00 Introduction to the power of narratives in finance

01:20 Narratives shape what people believe is possible

02:18 The importance of stories in social and environmental finance

03:26 Ownership economy and its narrative shifts

04:54 The role of narratives in building intergenerational wealth

07:59 The collaborative approach to narrative change

10:20 Stories as drivers of policy and norm shifts

12:17 Narrative as a team sport and collective action

34:04 The multiple narratives of local in finance

36:29 Different stories of local and their implications

42:52 The narrative of economic self-determination

44:46 Local knowledge as a narrative of expertise

46:34 The shift from communities being investment-ready to capital being context-ready

47:41 Conclusion: The importance of deep narrative change and systems transformation

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Relevant Links

Criterion Institute website and LinkedIn

Joy Anderson's LinkedIn

Joanna Levitt Cea's LinkedIn

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Dive DeeperInvesting to shift power: advanced practices of Africa's investment leaders

This article examines how investment leaders are redesigning financial practices to address power dynamics embedded within investment structures. By highlighting innovations in governance, investor participation, accountability, and decision-making, it complements this episode's discussion of narratives by showing how underlying assumptions about authority, expertise, and ownership become embedded in financial systems and how those assumptions can be intentionally challenged and changed.

Advanced practices in local capital design: Trade Lenda

This resource examines how financial structures can be intentionally designed around local knowledge, governance, ownership, and accountability. It directly connects to the episode's exploration of local as democratic legitimacy, contextual intelligence, and economic self-determination.

Framework for financing the prevention of gender-based violence

This framework provides an example of how financial systems can be redesigned to address power dynamics rather than simply expanding access. It reinforces the episode's discussion of moving beyond surface-level solutions and examining the underlying structures that shape outcomes.

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If you enjoyed this episode, consider listening to:#66: Designing Finance for Context: A Conversation with Joanna Levitt Cea

Joy Anderson and Joanna Levitt Cea explore how fund design can become a tool for shifting power, why context should come before replication, and how finance can be redesigned around community knowledge and lived experience.

#79: From Invitation to Trust: Rethinking Relationships in Finance

A complementary conversation about relationships, trust, and the underlying assumptions that shape how financial systems operate.

#78: Intermediation is Not Overhead

An exploration of financial infrastructure, system design, and why the structures that connect capital matter as much as the capital itself.

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Part of the ImpactAlpha Podcast Network.