Backyard Economics is BACKWARD Economics; And Ultimately Leads To Economic Self-Sufficiency
According to the website Backyard Economics:
Money spent close to home adds up to better job security for everyone in the community. Out-of-state spending means fewer jobs in Florida. An economic impact study by Florida TaxWatch concludes that every $100,000 spent online with out-of-state companies costs one Floridian a full time job. In 2008, Floridians spent an estimated $11.2 billion on Internet purchases, mostly with out-of-state businesses. That adds up to more than 112,000 jobs lost in Florida just last year – reverberating across all sectors.
Plant the seeds of economic recovery in your own backyard. Support the businesses that will reinvest your dollars in your community.
An editorial in support of Backyard Economics appeared here in the Jacksonville newspaper, which inspired Don Boudreaux to respond and conclude that:
Florida's buy-local effort boasts the charming name "Backyard Economics." A more appropriate name would be Backward Economics."
MP: Here's another challenge to the Backyard Economics concept.
Jacksonville is in Florida's Duval County. Both state borders and county borders are just imaginary lines on a map, so whatever is said by advocates of Backyard Economics about the state of Florida should also apply to the county of Duval, no?. That is, the logic of Backyard Economics should apply equally to both the state of Florida AND Duval County, and we should be able to substitute Duval County for Florida below:
"Money spent close to home adds up to better job security for everyone in the community. Out-of-DUVAL COUNTY spending means fewer jobs in DUVAL COUNTY. An economic impact study by Florida TaxWatch concludes that every $100,000 spent online with out-of-DUVAL COUNTY companies costs DUVAL COUNTY one full-time job.
In 2008, Duval County residents spent an estimated $521 million on Internet purchases with out-of-COUNTY businesses . That adds up to more than 5,200 jobs lost in DUVAL COUNTY just last year – reverberating across all sectors."
(Note: Florida figures are adjusted to reflect Duval County's share of the state's population: 4.65%.)
Conclusion: Using Backyard Economics logic, Duval County residents should only support Duval County businesses, and should avoid patronizing out-of-county businesses.
But let's go one step further. By the same logic, cities located in Duval County like Jacksonville Beach should only patronize shops, restaurants, and businesses in Jacksonville Beach, and avoid out-of-city businesses. But then the logic would also apply to even smaller geographical areas like neighborhoods within Jacksonville Beach (don't buy "out-of-neighborhood"), a neighborhood resident's own block (patronize only "in-block businesses"), and then ultimately a resident's own household.
In other words, the logic of Backyard Economics for state economies like Florida ultimately leads to an individual household's OWN BACKYARD (literally), and complete and total economic self-sufficiency at the household level (don't buy any "out-of-household" goods or services).