EC is the poorest city in Ohio. It's been obliterated by white flight, an openly corrupt mayor, LA-style police gangs, and now gentrification from University Circle, the Cleveland neighborhood it borders, where the major hospitals and universities in the city are based. But there are genuine efforts - like what's highlighted in the article here - to build independence from those forces.
Closed loop... Except for the government taxes. And the financials which will likely not be home grown. And the outside regulations, inspections, state compliance, health care, etc, etc.
I'm all for a closed loop society. But even a government as "free" as the USA would never allow that.
Still I applaud their efforts. Maybe the headline is a bit misleading though
Based on what I dug into regarding the concept, a closed-loop economy focuses on three principles:
- Eliminate waste and pollution
- Circulate products and materials
- Regenerate nature
This being the case, I don't see exactly how taxes come into play in any detracting way. Plus it's pretty lightweight with financial requirements too. It's more of a modern day more aggressive recycling game plan for a community.
Circular economy is a better term.
Closed-loop economy would be more like all money used is also generated within the system. No money is added or subtracted from the community.
But whatever... I get what they're talking about.
