The Foundational Economy and Variegation
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Keywords: Foundational Economy, Variegation, Policy, Urban, Rural
Abstract Type: Paper Abstract
Authors:
David Beel, Manchester Metropolitan Univeristy
Matthew Thompson, Cardiff University
Martin Jones, Staffordshire University
Ian Rees Jones, Cardiff University
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Abstract
The concept of the foundational economy has been gaining traction, as an approach to economic development that moves away from more traditional approaches that focus upon a growth first narrative. The foundational is positioned as an often overlooked (by policymakers at least) but essential part of a well-functioning economy and is further linked to the development of a wellbeing economy. At its most radical the foundational pushes towards a post-capitalist future, in a more applied (policy) sense it represents a variegation within capitalism. Therefore, in this paper, we use the implementation of foundational thinking across different case studies to consider, the ways in which the concept has found traction (or not) in economic development policy. This creates tensions for actors and institutions in the unfolding of policy interventions, hence we consider the ways in which foundational thinking grapples for opportunities to develop in the context of competing policy trajectories.
The Foundational Economy and Variegation
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Paper Abstract