Listening Task

Title:
Rebuilding Communities: Local Economic Development

Source:
http://www.youtube.com/watch?v=lyO8chVK_44

Summary:
This listening is an interview of Michael Shuman. He explains two things about rebuilding communities. First, he says that people spending money affects local business. That is because when people spend money, the government gets more tax. He mentions the government should spend money more wisely. Then, he give one example. When thousands of people in San Francisco lost their jobs, the government could have prevented that situation by spending more money on producing jobs . If they had done it, the local economy would have been better.
Second, he explains the idea of local business "multiplier." That means that dollars will circulate. When people get money from their company, they spend money in other places such as grocery stores. He thinks that when people spend more money, the circulating dollar is faster than before. It affects local businesses.

Opinion:
This listening mentions how the local government can grow their business. When I listened to this topic, I could not understand the whole thing. Thus, I had to listen many times. Michael Shuman said two things. The most interesting part was the part about money circulation. I heard that before when I was in the high school. However, I just learned its definition without any examples. When I heard the San Francisco example, I could understand more clearly than before. It was a very good time for me to know about local business management.