Does buying local work

 band of localsDoes buying local work? Dr. David Hebert from Ferris State University in Big Rapids shares how buying local strengthens our community in Michigan. In the second part of a nine part series Buy Local Michigan takes a deep dive into the economics of buying local.

Dr. Herbert talks about comparative advantage? According to Investopedia, “Comparative advantage is the ability of a firm or individual to produce goods and/or services at a lower opportunity cost than other firms or individuals.  

So does buying local work? We hear it all the time that buying locally strengthens our community and at the at a basic level, when you buy local more money stays in the community and binds everyone together.  

One great example that I have seen is the Band of Locals in Big Rapids.  Selling Blue Bands for $10 provides a lifetime of savings. 

Buy Local Michigan is produced by DW Video & Multimedia, where we are telling your story. Copyright 2016

For more from Dr. Hebert in this nine part series go to ‘The Meaning of Buying Local‘.

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