From someone who favors "hiring locally":
Local contractors should have preferences. Why would you want your money leaving your area? It is worth keeping the money in your local area if it costs a little more to hire locally. (And by extension, "buying locally".)
Anybody wanna take a stab at it?
I will start by asking, "what is local"? City, county, or state? What if you are next to the border, and therefore, the business immidiately across the border is closer than the business within your border but "across town"? With that said, my two-word and initial response would be "comparative advantage".
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Money is not wealth.Labor and products are, Once the contractor is done the net wealth in the community has increased.Also spending less in your contractor allows you to spend more in other things.
I don't want money leaving the area of my wallet.
Microsecession as a strategy for revolution | Challenge to minarchist | How would a private road system work?
Yeah. It reminds me of the Broken Window fallacy.
CorporateGhost:Money is not wealth.
Would you then fransfer some of it to my account?
This:
Daniel:"comparative advantage".
And this:
Stranger:I don't want money leaving the area of my wallet.
"You don't need a weatherman to know which way the wind blows"
Bob Dylan
I'd say that if an individual wishes to, there's nothing wrong with favoring a local contractor. However, that's an individual's choice and there's no reason to try to force it on others. I personally think the area my money stays in should be very local, ie, my bank account. If that means hiring people from out of the area because they offer their services at a lower cost, so be it; I'd get the same results and keep more of my money to invest in other areas. I think the proponent of this idea is confusing wealth with money, and neglecting the fact that by spending less on each service individuals would be able to raise their standard of living.
I'd suggest that you search this web site for the "Law of Comparative Advantage." The law was established almost 200 years ago and is one of the most basic foundations of economics. Anyone who advocates buying locally reveals, by that very statement, a complete lack of even the most rudimental understanding of economics.
scineram:Would you then fransfer some of it to my account?
Maybe, how much and what will you give me in exchange?
Good luck finding a use for my FRN's during hyperinflation.
CorporateGhost:Maybe, how much and what will you give me in exchange?
Since they are not part of your wealth, I thought you might give them away as a gift.
CorporateGhost:Good luck finding a use for my FRN's during hyperinflation.
Fear not! They will be long gone by then.
You have to use your imagination.
Wallpaper:
As a toy for children:
Confetti:
As fire wood:
I'd say the contractor that offers the highest quality service/product for the lowest price is the one that should be favored.
Resident Christian Minarchist.
scineram:Since they are not part of your wealth, I thought you might give them away as a gift.
They are not, but the allowed me to buy stuff (for now). So no, you can't have my money.
Daniel: As a toy for children:
That's lovely.
CorporateGhost:They are not, but the allowed me to buy stuff
So if I win $10^8 on the lottery this week, I will not be wealthy?
scineram: So if I win $10^8 on the lottery this week, I will not be wealthy?
No, you'll be wealthy once you get to spend the money on thing you can actually consume. If you keep the money in you account for the rest of your life, you'll never be wealthy.If hyperinflation comes and suddenly your $10^8 are not enough to buy a pair of shoes, you'll not be wealthy either.If money was wealth, then it would be a good idea for the fed to deposit $10^8 in everyone's account, and we would all be immensely wealthy,right?
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