The credit crisis: a golden opportunity to extend localisation and stimulate genuinely sustainable local economic development

Julian Lamb and Karen Leach

International Journal of Green Economics, 2011, vol. 5, issue 2, 204-212

Abstract: The credit crisis and associated economic instability continues to cause great anxiety; and even after two years there appears little appetite to talk in terms of the 'green shoots of recovery' (Woodcock, 2009; Nelson, 2011). Nevertheless, this crisis is clearly illuminating the inequitable and unsustainable ideologies of our economic system – and this is a rare opportunity which should be grasped by those who wish to promote alternative business and economic models. This paper draws upon findings from recent front-line research by 'Localise West Midlands' and argues that the two main commercial practices that caused the credit crisis – the rapid expansion of business opportunity and the spreading of risk – can be diverted to become the economic solution for producing more resilient, sustainable communities based on a localised model of productive economy.

Keywords: green economics; credit crisis; ideologies; localisation; social construction; risk; banking; securitisation; sustainability; capitalism; local living economy; economic development; local development. (search for similar items in EconPapers)
Date: 2011
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.inderscience.com/link.php?id=42558 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ids:ijgrec:v:5:y:2011:i:2:p:204-212

Access Statistics for this article

More articles in International Journal of Green Economics from Inderscience Enterprises Ltd
Bibliographic data for series maintained by Sarah Parker ().