Introduction

Abstract

Looking forward over the 21st century, we see the forces of globalisation driving the integration of national and regional economies. In the developed world, at least, it seems likely that globalisation will challenge inherited traditions, institutions, and ways of thinking about the organisation of economy and society. Looking forward, we see industries being brought to the global marketplace, the inherited configuration of productive assets increasingly put in play by the forces of global competition. And looking forward over the next 25 years, who would disagree that three of the most important economic and political issues facing nation-states will be: ‘How should “local” firms respond to the forces of globalisation?’, ‘What are the advantages and disadvantages of inherited assets for global competitiveness?’ And, ‘Where should firms locate to take advantage of the emerging global economy?’ There are clearly other important issues to be addressed. At this point, we simply wish to emphasise the fact that answers to these questions will have profound consequences for people’s long-term employment and incomes.KeywordsEconomic AgentGlobal CompetitionRelational CapitalGlobal CompetitivenessProductive AssetThese keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.