The recent failures of giant Wadi Street firms and

The recent failures of giant Wadi Street firms and

the precipitous fall of stock market indexes sure

seen by many as signs of an unstable economy These large institutions often get more attention than some of the more tangible businesses — the farmers* general stores* restaurants* shops* and local industry — which axe the real underpinnings of the economy It is when these small businesses begin to fail right here in our own community that we need to take notice*

Last week* one business foreclosed and two others closed in Rappahannock County — one which had been in operation for more than 16 years* Businesses come and go* and we understand that markets change* And although we may not have any control over what happens in a complex financial market based in New York* we certainly have plenty of opportunity to participate in our own local economy

Tb a large extent* we can positively influence our own little market economy in Rappahannock County We have something that these big metropolises do not: We have farmers* we have beef lamb and other livestock growers; and we also have the restaurants* the inns and bed and breakfasts* We have theaters* concert venues and horse races* We have craftspeople* artists and services* We have a tourist draw on our doorstep*

In a time of perceived national economic upheaval* we need to remember that our greater concern needs to be at borne* Are we doing* as a community all we can in order to sustain ourselves economically and meet our values of' preservation? Do we support local businesses and make choices to keep money circulating within the county instead of making choices that send money out?

Markets* down to their very essence* are local* community endeavors where people meet face to face and make exchanges that benefit both* In the end* it's the accumulation of these “little** economies — these basic face to face exchanges among neighbors — that make the “big“ economy* That's pretty hopeful in our view*

And despite all the gloomy news* there is hope that the national economy will recover next year (See economic recovery story on Huge A5*> There are also reforms — recently advocated by Nobel Prixe winning economist Joseph Stiglitx — that can be made in larger financial markets to refocus on the needs of ordinary Americans* This too is hopeful*

But we can make changes in our community market right now by buying local* investing local* and growing our own “little“ Rappahannock economy*