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Local Multiplier Effect
The local multiplier effect (sometimes called the local premium) is the additional economic benefit accrued to an area from money being spent in the local economy. The concept has been taken up by advocates for "spend local" campaigns in addition to more formal treatments in the area of regional economic development. Use in local spending campaigns One perspective of the local multiplier effect focuses on the greater local economic return generated by money spent at locally-owned independent businesses compared to corporate chains or other absentee-owned businesses. Localisation advocates cite the multiplier effect as one reason, of many, for consumers to do more of their business locally. Two U.S.-based entities have published studies measuring the local multiplier. Civic Economics, a for-profit economic consultancy, has undertaken studies in Austin, TX, San Francisco, CA; Chicago, IL and Western Michigan. The Institute for Local Self-Reliance, a non-profit organization, execu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Regional Economics
Regional economics is a sub-discipline of economics and is often regarded as one of the fields of the social sciences. It addresses the economic aspect of the regional problems that are spatially analyzable so that theoretical or policy implications can be the derived with respect to regions whose geographical scope ranges from local to global areas. Regional Economics: refer to the economics advantage of a geographical location and human activities of greatest height to contribute maximally to the general growth and prosperity of the region. Origins Regional economics has shared many traditions with regional science, whose earlier development was propelled by Walter Isard and some economists' dissatisfaction with the existing regional economic analysis. Despite such a rather critical view of regional economics, however, it is hard to be denied that the "economic" approach to regional problems was and has been the most significant one throughout the development of regional scienc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Localisation (economics)
Economic globalization is one of the three main dimensions of globalization commonly found in academic literature, with the two others being political globalization and cultural globalization, as well as the general term of globalization. Economic globalization refers to the widespread international movement of goods, capital, services, technology and information. It is the increasing economic integration and interdependence of national, regional, and local economies across the world through an intensification of cross-border movement of goods, services, technologies and capital. Economic globalization primarily comprises the globalization of production, finance, markets, technology, organizational regimes, institutions, corporations, and people.James et al., vols. 1–4 (2007) While economic globalization has been expanding since the emergence of trans-national trade, it has grown at an increased rate due to improvements in the efficiency of long-distance transportation, advanc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Civic Economics
Civic is something related to a city or municipality. It also can refer to multiple other things: General *Civics, the science of comparative government *Civic engagement, the connection one feels with their larger community *Civic center, a community focal point *Civic nationalism *Civic Theatre (other), a name given to a number of theatres around the world *Civic virtue Specific places *Civic, Christchurch, a Category II heritage building in the Christchurch Central City *Civic, Australian Capital Territory, the central business district of Canberra, Australia Music * Civic (band), an Australian rock band Other *Honda Civic, a car produced by the Honda Motor Co. *Campaign for Innocent Victims in Conflict (CIVIC), a humanitarian organization See also * Civil (other), civilian * City * Citizen Citizenship is a "relationship between an individual and a state to which the individual owes allegiance and in turn is entitled to its protection". Each state dete ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Institute For Local Self-Reliance
The Institute for Local Self-Reliance (ILSR) is a nonprofit organization and advocacy group that was founded in 1974. The organization provides technical assistance to communities about local solutions for sustainable community development in areas such as banking, broadband, energy, independent business, and waste. ILSR has three main offices, one in Washington, D.C., Portland, Maine, and Minneapolis, Minnesota. History 1980s In the 1980s, ILSR worked with community organizations to halt a plan for six waste incineration plants in Los Angeles. With ILSR's assistance, the Los Angeles groups then formed a coalition throughout Southern California that campaigned to have 15 additional mass burn plants cancelled between 1985 and 1988 in favor of recycling technologies. 2000s In October 2007, ''Booklist'' named ILSR Senior Researcher Stacy Mitchell's book Big-Box Swindle as one of the top ten business books of the year. Reminiscent of ILSR's early work on the economic impact of fa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Development
In the economics study of the public sector, economic and social development is the process by which the economic well-being and quality of life of a nation, region, local community, or an individual are improved according to targeted goals and objectives. The term has been used frequently in the 20th and 21st centuries, but the concept has existed in the West for far longer. " Modernization", "Westernization", and especially "industrialization" are other terms often used while discussing economic development. Historically, economic development policies focused on industrialization and infrastructure; since the 1960s, it has increasingly focused on poverty reduction. Whereas economic development is a policy intervention aiming to improve the well-being of people, economic growth is a phenomenon of market productivity and increases in GDP; economist Amartya Sen describes economic growth as but "one aspect of the process of economic development". Economists primarily focus on the g ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tradable Sector
The tradable sector of a country's economy is made up of the industry sectors whose output in terms of goods and services are International trade, traded internationally, or could be traded internationally given a plausible variation in relative prices. Most commonly, the tradable sector consists largely of sectors of the manufacturing industry, while the non-tradable sector consists of locally-rendered service (economics), services, including health, education, retail and construction. Tradable jobs can be performed by individuals outside a country: manufacturing, consulting, engineering, finance. Non-tradable jobs can realistically only be performed by domestic workforce: government, health care, hospitality, food service, education, retail, and construction. Australia In 1990, Australia's sectoral outputs were 25.8% tradable and 74.2% non-tradable. Mining and manufacturing accounted for 18.3% and 61.4%, respectively, of the tradable sector. References I ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fiscal Localism
Fiscal localism comprises institutions of localized monetary exchange. Sometimes considered a backlash against global capitalism or economic globalization, fiscal localism affords voluntary, market structures that help communities trade more efficiently within their communities and regions. Fiscal localism "Buy local" or local purchasing is the most visible face of fiscal localism. There are more complex institutions (both new and well established) that contribute to a community's ability to flourish. Institutions like credit unions, CDFI's (Community Development Financial Institutions), and local currency or complementary currency all can contribute to making communities more resilient and wealthy. Local currency has been in the news most, with journalists citing the Berkshares in Massachusetts, and the Ithaca Hours in Ithaca, New York. Beyond these salient examples, there are thousands of local currencies all over the world. Fiscal localism is rooted in the concept of decentra ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Local Currency
In economics, a local currency is a currency that can be spent in a particular geographical locality at participating organisations. A regional currency is a form of local currency encompassing a larger geographical area, while a community currency might be local or be used for exchange within an online community. A local currency acts as a complementary currency to a national currency, rather than replacing it, and aims to encourage spending within a local community, especially with locally owned businesses. Such currencies may not be backed by a national government nor be legal tender. About 300 complementary currencies, including local currencies, are listed in the Complementary Currency Resource Center worldwide database. Terminology Some definitions: * Complementary currency - is used as a complement to a national currency, as a medium of exchange, which is usually not legal tender. * Community currency - a complementary currency used by a group with a common bond, such as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Independent Business Alliance
The American Independent Business Alliance (AMIBA) is a non-profit organization that represents the interests of local independent businesses, helps communities develop strong local economies through nurturing local entrepreneurs, and promotes citizen engagement in local economic development. AMIBA helps communities to: launch and successfully operate "buy local" campaigns; facilitate group purchasing and marketing among local businesses, and; other programs to support community enterprise. Many of these communities form Independent Business Alliances to strengthen and sustain community-based businesses while strengthening local economies and preventing chains and other remotely controlled businesses from driving out locals. Local independent businesses AMIBA defines a local independent business as: *Private, employee, community, or cooperative ownership *At least 50% owned by area residents *Full decision-making authority for the business lies with its local owner(s) *A limited n ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Theories
Economics () is the social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on these elements. Other broad distinctions within economics include those between positive economics, describing "what is", and normative economics, advocating "what ought to be"; between economic theory and applied economics; between rational and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Localism (politics)
Localism describes a range of political philosophies which prioritize the local. Generally, localism supports local production and consumption of goods, local control of government, and promotion of local history, local culture and local identity. Localism can be contrasted with regionalism and centralized government, with its opposite being found in the unitary state. Localism can also refer to a systematic approach to organizing a central government so that local autonomy is retained rather than following the usual pattern of government and political power becoming centralized over time. On a conceptual level, there are important affinities between localism and deliberative democracy. This concerns mainly the democratic goal of engaging citizens in decisions that affect them. Consequently, localism will encourage stronger democratic and political participatory forums and widening public sphere connectivity. History Localists assert that throughout the world's history, mo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
