Bedford Falls - A Case Study in Community Investment

“Just remember this, Mr. Potter, that this rabble you’re talking about...
they do most of the working and paying and living and dying in this community.” - George Bailey

Some disclaimers or admissions before we get going.

1. This movie is flawed. All things are flawed. There’s a high likelihood that a lot of mass consumer media from 1946 “could have done better.” Clearly, in 2024, we all still can do better.

2. George Bailey is the protagonist. Mary Bailey is the heroine. George keeps his cool during the bank run and saves the Building and Loan. The world, at home and at large, is literally on fire around Mary. She builds a house, raises some kids,  bakes to support the war effort, and in the end she orchestrates the crowdfunding final scene.  

This weekend found me with the alone time to knock out the annual watching of It’s a Wonderful Life. I watch it every year. It hits hard. 

I used to say I hated this movie…I had never watched it. Contempt prior to investigation once plagued my life. Progress. 

I watched from a different perspective than in prior years and the macro meaning vs. micro stood out. Take the scene where George gives it to Potter during the Building and Loan vote. It’s a manifesto for the connection between community and economy. It’s about what we owe to one another, and it reminds us that investing in people isn’t just noble; it’s essential.

This year I have paraphrased two separate conversations, combined the smart points my friends put forth, and used it to explain my north star for supporting efforts that help people earn more, learn more and live well.

If you fail to support projects, policies and initiatives that help as many people as possible make as much money as possible you’re betting against yourself. You’re conceding that your product/service has a single generation shelf life so you have to capture as much as you can for yourself, today.

At its heart, Bailey’s speech is a call to action for all of us who believe that communities thrive when we put people first. Don’t get me wrong, the bottom line is the bottom line. But George’s words resonate today as we face decisions about where and how to invest our time, energy, and resources. 

Community = Economy

Every thriving economy is rooted in the people who make up the community. These are the workers, the small business owners, the teachers, the healthcare providers—the people who build the framework that supports all of us. When we provide opportunities for people to learn more, learn more and live well, we’re not just improving individual lives. We’re building an economy that has resilience and depth.

The family with a mortgage through the Building & Loan wasn’t just paying off a house—they were building a future, a stake in the community. And when people feel like they belong, they’re more likely to invest their own efforts into the shared success of their town.

“... you’re all businessmen here. 

Doesn’t it make them better citizens? 

Doesn’t it make them better customers?”

Access to opportunities—whether it’s healthcare, education, or economic stability—should be in reach for the people who form this backbone of our communities. Creating systems that make a decent quality of life possible for everyone, right now, is the responsibility of business leaders as well as community members. George challenges us to prioritize humanity over expedience, and to understand that investing in others enriches us all. This is how we build better citizens, stronger families, and a more robust economy.

The Ripple Effect of Investment

When one business invests in its community—be it through local hiring, philanthropy, or advocacy—it inspires others to do the same.  The resulting trust becomes the foundation for larger, more transformative projects. Whether it’s a new manufacturing facility or a downtown revitalization project or the support of a community nonprofit, these efforts start with belief in the people who will make it all happen.

The collective belief of the people of Bedford Falls is what keeps the Building & Loan alive. It’s not about charity; it’s about confidence. They bet on themselves. George holds a mirror up to their potential, their contributions, and their humanity. In return, they rally behind him when he needs them most (and when Mary goes full COO/CMO.)  

Economic health is not a top-down process. It’s a cycle of mutual investment.

A Commitment to Each Other

MakIng the kind of commitment to our communities that George Bailey makes to Bedford Falls is not just about financial investment, though that’s part of it. It’s about showing up, listening, and standing up for policies and projects that lift everyone. 

The tale of two distinctly different towns illustrates what happens when we don’t. Think about the cinematically brilliant shots of George running through Bedford Falls vs. Pottersville (visual poetry but that’s not the point.) What kind of towns do we see?  What kind of businesses? Are the people nice? Happy?

Pottersville is a place without vision; shortsighted, selfish and scared.