No such thing as a local economy

h/t Kevin D. Williamson at his Exchequer blog

Can we please lay aside the primitive superstition that in the developed world in the 21st century there is such a thing as the “local economy”? Let’s say we took the Brooklyn farm coop approach to gas, and a quaint little store on my corner had a oil well in the back, a DIY-refinery in the garage, and a hand-lettered chalkboard outside advertising its artisanal gas. The bearded hipster inside runs the whole thing. Local economy, right? But I assume he lives in a house or an apartment, which is bound to be made of concrete and steel not locally sourced. He probably has a cell phone and a computer and may even shop at Trader Joe’s or Whole Food or — angels and ministers of grace defend us! — Walmart, thus sending the money I spend at his shop far and wide. You know who has a “local economy”? North Koreans and hunter-gatherers. Autarky is no way to live.

 

 

This entry was posted in Economics. Bookmark the permalink.

Leave a comment