Over the past few decades buying locally produced goods and services over those produced farther away has become increasingly fashionable. However, this “modern” trend is really a reversion to an earlier period when most all products were produced and bought from people in a localized area. For most of human history, “buying local” was the only option.
There may be many reasons we may want to buy local goods and services—but improving the local economy is not one of them. As economist Don Boudreaux explains in the video below, there are many reasons why it’s foolish to ‘buy local’ if your goal is to improve the economy of the locale in which you live.