Abstract
A new consensus is emerging around effective modes of government action in the economic sphere - in essence, a new approach to industrial policy - that has significant implications for the reform of the subnational economic development function currently underway in the UK and US. Leading-edge local and regional economic development practise must be smarter, more flexible, more collaborative among stakeholders, more experimental and evaluative and much less prone to generic diagnoses of economic challenges and the application of universal strategies. In turn, good planning scholarship is needed to help design the organisations and practises that the new model requires and to train the professionals who can function effectively under it.
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