Wholly Canadian is a social enterprise promoting whole-life local living
...a breath of fresh air for those with a heart for local /fair-trade living, & inspiration for those intrigued...
                                     

Continuation of "Why Localism?"

Boosting Local Economy: Your dollar has power!

When I buy locally the money stays within my community. This creates true economic growth. On the other hand, when I purchase imported products, the greater power of that transaction belongs to the originating country whose product I purchased.

For example, the retail industry (e.g. malls) relies largely on imported goods. While this creates employment which is of course good for the local economy, this is not true growth. The potency of the dollar is truncated. True economic growth is rooted in increasing our exports and decreasing our imports; thus, inextricably linked to a local living paradigm.

Trade protection legislation is advocated by some localism paradigms. But this, I argue, is harmful. It prohibits free trade, constraining our country's income. I do not advocate trade protectionism, but an increase of local purchasing and fair-trade international trading in a free-trade economic environment. This intentional two-pronged paradigm benefits the economy in a couple of way.

  • Local Purchasing: When local purchases are made the food/ products move through fewer hands. This means the money has a greater chance of being placed in the hands of the producers. And this is good! The farmer, the craftsperson, or the manufacturer is often the one to see the lower percentage of a monetary transaction. But not so in a local paradigm because the transaction is often direct, or involving just one middle party.

  • International Fair-trade Purchasing: The same is true of the fair-trade paradigm. Fair trade gives international farmers and artisans of developing countries a fair dollar for their product via equitable trading. It is an alternative approach to conventional international trade. Often disadvantaged producers are short-changed in an international transaction while the consumer in a developed country is able to purchase at a low cost because the farmer or artisan was underpaid. This is a lose-win situation. Only one party wins. However, when consumers purchase fair-trade they practice social justice in the common places of life.

Interested in integrating these two paradigms? Read more.

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