Buy Local: Everyone Wins!

sign for lobsters for sale by a local fisherman

I just read this fascinating article at Time Magazine. The article outlines how the velocity of money determines the success or failure of a local economy. (Velocity in this case refers to how often money changes hands within a community.)

The short answer to our economic woes is to buy everything as locally as you can: Things that are manufactured locally, sold by locally-owned and operated businesses (the corner store), and that are tied directly to a local economic chain (local advertising, local transportation companies, etc.). Otherwise, the money you spend down the street actually is being flushed down an economic drain to nowhere.

Sure, Walmart might have a lower price on an item–but that item has a higher cost to you and your community. There are so many advantages to buying local. First, you know who you’re buying from. Second, you know what you’re buying. Third, you can hunt down the manufacturer and hurt them if there’s lead in it. (Try doing that with that toy you bought that was made in China!) The point is simple: supporting your local economy actually improves the quality of your life–your home value will be better because the local economy is better, you’ll actually know who your friends and neighbors are and you’ll be directly supporting them every time you shop… that means, they will be more likely to directly support you in return.

That’s the true value and meaning of community, and it starts with you. So, how and what will you buy locally this week?