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What is 'Local'? Part 1

February 21, 2007

‘Local’… applies when a desirable experience or object is within a radius of acquisition cost that a particular individual is willing to incur.

 

Acquisition Costs are incurred in the form of time, money, emotional effort or intellectual effort. The particular individual is key to sorting out the context and relative value of other desirable experiences and objects. Each individual has a personal system of exchange of time for money, money for emotional, time for intellectual effort etc. based on their predisposition to one sort of activity or another, source of income, family and other commitments, passion for an object or experience. This may sound complicated, but everyone is constantly working this out for themselves.

 

This definition generalizes well for cases where geographic locality isn’t a practical restriction. For example, things like buying books at Amazon, selling items on eBay, and playing Go with someone in Norway are all sufficiently within my radius of acquisition cost to be considered ‘Local.’

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