i often hear people say that local businesses are good because they reinvest more in the local area, compared to chains that essentially send profits to corporate hq which sounds plausible, but also my economic spidey-sense is tingling
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like, what about the value of having cheaper goods and services? what about people in the community who own shares in the chains? corporations may not be local, but they aren’t foreign either, anyone can own a piece
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basically i’m just noticing that i’m confused about this it seems weird that a town could be made less prosperous by having more competition between businesses (absent externalities, and there very well could be externalities involved)
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Replying to @acidshill
its complicated in some theoretical cases but in practice most buy local stuff is fairly dumb or superficial
11:25 PM - 20 Sep 2021
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