Strategies, Methods and Outlook
Elgar original reference
Edited by Daniel A. Mazmanian and Hilda Blanco
Chapter 20: The future of sustainable economic development in cities
In all respects, since the inception of the field of economic development, the notion and practice of sustainability has been a core principle. As a founder of the academic and professional field of local economic development, my first edition of Planning Local Economic Development (Blakely 1990) is premised on the notion that local communities (cities, towns, neighbourhoods) could and should form themselves into economically viable units based on their continuous and replenishable resources. In this way, I argued, the basic foundation of sustainable economic development is endogenous (local resources) development. Local resources are described as human, physical, social, economic, organization/institutional and governmental or regulatory. Regional economies are not isolated units; they operate in a larger and increasingly global framework. However, central to the concept of local economic development is making choices within the global framework on what and how to use resources of the locality – no matter how place is defined. My concept of sustainable economic development grows out of more than 50 years of practice along with academic teaching. My concept rests on three pillars. First, economic development must be indigenous; that is, it should be driven by use of the human, natural and community resources in the place and not by external economic drivers. That is not to say that a firm attracted to a place is a bad idea. But the firm needs to fit the environment, instead of forcing the environment, human and physical, to be altered to fit the firm.
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.