Judy Wick’s dream of creating a more sustainable economic system through the establishment of micro-businesses is not a utopia. In fact, it is conducive to modern economic theory. Micro-businesses help the economy in three ways.
First, micro-businesses redistribute capital to stakeholders in the economy. The stakeholders are entitled to capital protection against the giant corporations (In short, they act as barriers to monopoly or cartel). The redistribution, unlike policy redistribution, assumes a natural course in the market.It does not sacrifice any economic actor or interrupts the market.
Second, micro-businesses are community-friendly. They provide jobs and some form of recreation to the locals. These micro-businesses are also sensitive to the opinion and problems of the community, guaranteeing its proximity to the community. Lastly, the creation of micro-businesses limits the capacity of the country to increase its product imports. By aligning local growth with nationwide economic progress, a country can theoretically increase its production without the need to increase its quantity of imports.Two things though must be taken into consideration.
First, the establishment of micro-businesses must be in lieu with current economic theory. Second, it must not occur radically. The rationale behind this is clear. The market is not immune to radical changes in its orientation. Adaptation must occur over time to give all the stakeholders the time to reallocate important resources. When all these things are accomplished, Judy Wick’s dream would be put to reality.
