"When country A enacts a blockade or economic sanctions against country B, does country B become more prosperous or less? Does country B thank country A for the good fortune of being forced to “buy local,” or does it claim that country A has committed an act of war?
Free Banking – The Folly that is “Local” Currency: “More importantly, the object that the local currency movement would achieve if it could—that of of “keeping trade within the community”–is, like all forms of protectionism, a highly dubious one: As Tim Harford succinctly puts it, “the gains from more trade with locals are more than offset by the losses from less trade with strangers. Otherwise economic sanctions would be a blessing.”"
Tuesday, July 19, 2011
Buy local? not so fast...
Locally-contrarian food for thought (link) -