Elm Street Economy
Categories: Financial Theory, Accounting
Those of you with some memory of the cultural heritage of the 1980s will assume that this represents an economy where monsters kill us in our sleep. A basic nightmare. The economy of genocide-era Rwanda, perhaps.
Wrong. No burned-up demon with knives-for-hands is coming after you (yes, we're afraid of Johnny Depp these days too, but that's not what we meant either).
An Elm Street economy means one that has a small-town feel. Like you're strolling down Elm Street (Main Street is already taken as an economic metaphor).
The idea is that local businesses serve the local needs; money circulates within the local economy.