I believe that the emerging trend in economic development activity will be for communities to become more reliant upon their own resources, to place greater emphasis on quality of life, and to begin restructuring in areas which presently make them vulnerable to external factors such as the supply of money and bank credit, prevailing interest rates, and levels of State and Federal government spending in their area. An effective strategy will probably require some combination of the two. Reducing reliance upon money and markets implies a number of adjustments. Communities must likewise take stock of their own resources and take steps to reduce the amount of value imported into the community, substituting local production for imports and thus reducing their need to earn cash by selling exports. Even the poorest among us is able to exert some power through the purchase decisions which we make every day.
Every dollar spent is a vote cast.
It is important to recognize that, however much or little money one might have, the choices one makes in spending that money, carry a great deal of weight in determining not only the products and services which the market offers, but also the very quality of community life. Although price is one of the primary criteria to be considered, it is not the only one. Some consideration should also be given to the question of where one should do business. Local businesses spend most of their revenues in the local area, while chain stores and absentee owners withdraw most of their revenues to other places, building up ever greater pools of capital which can distort economic relationships everywhere. While they may be able to offer lower prices, it is often a false economy.