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How Does Buying Local Effect the Economy?

How Does Buying Local Effect the Economy?

Judith D. Schwartz explains "buying close to home may be more than a feel-good, it's-worth-paying-more-for-local matter. A number of researchers and organizations are taking a closer look at how money flows, and what they're finding shows the profound economic impact of keeping money in town—and how the fate of many communities around the nation and the world increasingly depend on it." The New Economics Foundation, for instance, found that twice as much money stayed in the community when people bought from farmers markets or participated in a community supported agriculture program rather than a supermarket. Buying local can also raise red flags about gaps in the local market, create a diversity of small businesses that are resilient to economic downturns, and increase the circulation speed of money.

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