Process View of Local Economy

Ari-Veikko Anttiroiko
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Ari-Veikko Anttiroiko: University of Tampere

Chapter 2 in New Urban Management: Attracting Value Flows to Branded Hubs, 2015, pp 9-25 from Palgrave Macmillan

Abstract: Abstract The promotion of local economic development takes place in an increasingly fluid economic environment. This is why local governments benefit from better self-understanding of their nature as hubs of flows or ‘dissipative structures’, which opens up a view of a city’s interaction with the outside world. This chapter builds a picture of local economy within such a framework. Discussion starts from approaches to flows and continues with flow-based views of urban community and economy. It conceptualises local economic processes and builds ideal models of growing and declining city, which illustrate the idea of city as a dissipative structure. Lastly, this section discusses the implications of such a view to local economic development policy.

Keywords: city; complexity; decline; dissipative structure; economic development; growth; local economy; material flows; sustainability (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-53264-0_2

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DOI: 10.1057/9781137532640_2

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