What You Buy vs Where You Buy
Where I live in Vermont, there is a strong impetus to keep your consumption as local as possible. The reasons are obvious. Keep your dollars local to support your communities and your neighbors. Even though the cost might not be as competitive, we feel it is a small price to pay to provide a regional economic stimulus.
There needs to be, however, an understanding about not just supporting a local business but also a local product. In terms of vegetables and cheese, that’s easy to do. Local farmers selling goods within their communities. In terms of automobiles, computers, and household goods, the decision is more complicated. You may buy an auto from your neighborhood dealership, but if the car is imported, does that really help our community? This thinking translates to any purchase made that involves an imported product. We at Amer1caOne feel strongly that there needs to be a balance between where you buy and what you buy. For instance, a $30,000 imported car only provides a local support of approximately 10-14% of that cost; $3000-$4400. Perhaps the concept of ‘local’ needs to be refined.
By in large, in business and economics, what goes around comes around. Although income is not distributed evenly, to a certain extent, an economy is like a rising tide. People in one region can influence the people in another. In Vermont and NH, where the number one industry is tourism, we rely greatly on visitors from Boston and New York. As their economies percolate, they permeate into other regions. As consumers, we need to realize that just by buying local, we may not be maximizing our influence to stimulate everyone’s regional economy. Imported goods are the kiss of death for local economic stimulation.
So when you consume, try to balance out the ‘Where You Buy’ vs the ‘What You Buy’. After all, you make your money in America; we encourage you to spend it on America. Thank you.