Michael Smith is an alert “06880” reader, a longtime Westporter and a financial advisor. He writes:
We all have choices to make. We should understand the impact of every choice.
The other day I read in the New York Times about a hardware store closing in Manhattan. Not exactly unheard-of in the age of the internet and Amazon.
It was by a Columbia Law professor who wrote a book on the impacts on small businesses in America, from increasing corporate influence and rising rents in wealthy areas of the country. That’s something worth considering, as residents of Westport.
All of our local businesses have 2 things in common. One is that they contribute to the tax base; the other is that they have some “ripple effect.”
The contribution to the tax base is obvious, but the implications from declining contributions to our town budget from the state level are becoming increasingly important.
It’s harder to quantify when you click “buy now” on the web, along with impacts on the environment from single-use plastics and our collective carbon footprint.
The other “ripple effect” — which is much harder to see — is the choices individuals and small businesses make from the standpoint of investment in maintaining or opening new businesses, and where to own personal real estate.
Last April, I attended a panel discussion sponsored by the Coalition for Westport which attempted to discuss some of these issues and develop awareness. That session highlighted the complexity of the issues and difficulties of making change a plurality can agree on.
More awareness and involvement would be beneficial, because at the very least it helps us all understand that we can make a difference by recognizing the impact of our choices.
Westport residents would do well to consider the long-term impacts on our tax base and property values from short-term decisions, such as where to buy light bulbs, screws, household items and clothing. These purely economic considerations play a large role in the broader concept of community.
I advocate for all of us to make a conscious commitment to consider what item or substitute could be purchased here in Westport, or very close by, to help sustain the economic component of our community.
I have no personal interest in writing this. I am a 25-plus-year resident of Westport, and a financial advisor who understands the rapid and far-reaching dynamics of our global economy in the 21st century.
As I told my children when they were young; “Life is about choices. Make good ones.”