Local purchasing in the context of "Industrial policy"

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⭐ Core Definition: Local purchasing

Local purchasing is a preference to buy locally produced goods and services rather than those produced farther away. It is very often abbreviated as a positive goal, "buy local" or "buy locally', that parallels the phrase "think globally, act locally", common in green politics.

On the national level, the equivalent of local purchasing is import substitution, the deliberate industrial policy or agricultural policy of replacing goods or services produced on the far side of a national border with those produced on the near side, i.e., in the same country or trade bloc.

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Local purchasing in the context of Localism (politics)

Localism is a range of political philosophies which prioritize the local. Generally, localism supports local production and consumption of goods, local control of government, and promotion of local history, local culture and local identity. Localism can be contrasted with regionalism and centralized government, with its opposite being found in unitarism.

Localism can also refer to a systematic approach to organizing a central government so that local autonomy is retained rather than following the usual pattern of government and political power becoming centralized over time.

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