Argument #2 for formalizing Mexico’s Street Vendors
Locally spent money works better than global corporations would have you believe.
I’m becoming a raging activist, but check out this post at Small Mart (which I found via Corrente). My last argument was for increased tax revenue, here, but come on, this is so simple even an economics ignoramus like myself can see it. This is really something I think about every single time I have to buy something at Oxxo instead of from the lady with a table – and that’s why I try to always buy from the lady with a table.
Growing evidence suggests that every dollar spent at a locally owned business generates two to four times more economic benefit—measured in income, wealth, jobs, and tax revenue—than a dollar spent at a globally owned business. That is because locally owned businesses spend much more of their money locally and thereby pump up the so-called economic multiplier. Other studies suggest that local businesses are critical to tourism, walkable communities, entrepreneurship, social equality, civil society, charitable giving, revitalized downtowns, and even political participation.
Oddly, all of this stuff is what a conservative, pro-business party should be arguing for. This is what a chamber of commerce should be yammering incessantly about. Oddly, those clowns – in both countries – seem really most content with business models based more in the Halliburton/Northrup Grumman model. Eventually they will all, only sell everything to the US Military. What a great economy that will be – oh wait. That’s what we have now.
