Abstract
Foundational economy and foundational politics
Highlights
Any consensus on what is required by way of placebased policies is fragile and time limited
The current generation of mainstream academic economists and technocrats are mainly in defensive mode. They are intellectually invested in generic regional recipes like better transport and training, and industrial strategies for building competitive industries of the future, with growth (of national gross domestic product (GDP) or regional gross value added (GVA))
The first section explains what the foundational economy is and why it matters; the second section considers the problems of implementing foundational politics
Summary
Any consensus on what is required by way of placebased policies is fragile and time limited. The current generation of mainstream academic economists and technocrats are mainly in defensive mode. They are intellectually invested in generic regional recipes like better transport and training, and industrial strategies for building competitive industries of the future, with growth (of national gross domestic product (GDP) or regional gross value added (GVA)). Amongst the radical critics is a collective of European academics whose new book, Foundational. Economy (Foundational Economy Collective, 2018) argues for recognising the heterogeneity of economic activity and the importance of basic services for citizens in a new civic politics of place. The first section explains what the foundational economy is and why it matters; the second section considers the problems of implementing foundational politics. Economic Action Plan, and whether this has the potential to bring real change in policy directions
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