February 22, 2013

Pocket paradigm: Economic revival

The key to the economic revival is the development of self-generating economies. The self-generating economy has a long history in America. Many of the country's early communities were largely self-sufficient. This self-sufficiency, however, disappeared with the concentration of industry and land ownership. In cities, one can easily find self-generating economies although we seldom recognize them as such. The explosion of the legal profession, for example, reflects in no small part the ability of lawyers to create jobs for each other. The yuppie phenomenon can be seen as a self-generating economy: yuppies creating artificial needs for other yuppies and with some selling and others buying items that fulfill these needs. The importance of such economies tends to be disregarded because they don't have the visible form of a single corporation or factory.

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