This idea has always left me feeling uncomfortable (and my recent studies in Ecological Economics, which included a review of the history of the purpose and benefits or trade, have given some of the reasons why - perhaps the subject for another blog post).
Anyhow, despite Thatcher's assertion an alternative has been proposed “Local Ownership, Import Substitution”. This includes social as well as economic aspects to creating flourishing;
This perspective is often labelled as “LOIS”, and used in sentences such as “The alternative to TINA is LOIS”!
LOIS is based on, among other things, the idea of "local multipliers".
For more see:
For more see:
- Alter, L. (2006). Cage Match: TINA vs LOIS. Retrieved 12/02, 2012, from http://www.treehugger.com/culture/cage-match-tina-vs-lois.html
- Shuman, M. H. (2009, Autumn). TINA vs. LOIS: the small-mart revolution. Sockeye, , 22-23. from http://www.willamette.edu/centers/publicpolicy/projects/oregonsfuture/PDFvol12no1/Shuman.pdf
- Shuman, M. H. (2006). The small-mart revolution: how local businesses are beating the global competition. San Francisco, California, U.S.A.: Berrett-Koehler
- BALLE (2012) The Localist Values of the Business Alliance for Local Living Economies from http://web.archive.org/web/20130911081843/http://bealocalist.org/Localism-101
- BALLE. (2016). Local Economy Framework. Retrieved 18 November 2016, from https://bealocalist.org/local-economy-framework/