Adapted Metaphor For Grouping Approaches to Local Economic Development

Robert A. Beauregard [] grouped many of the approaches to local economic development under seven "metaphors". I felt that this method of grouping approaches to local economic development could be improved by the addition of an eighth metaphor -- "community development" -- and the grouping of these metaphors so that they cluster into four focus themes: money, environment, community, and politics. As a result I have reallocated some of the approaches, so that it is somewhat different from Beauregard's grouping. The concept is intended to be suggestive only.

Beauregard's chapter [] on this subject gives an excellent presentation of the advantages to using a metaphor approach when considering and discussing alternative approaches to local economic development.

Money

Problem-solving

   
• Transportation cost model    
• Production cost model    
• Inertia    
• Agglomeration    
• Territorial approach  

Running a business

   
• Neo-Classical economic theories    
• Stage-cycle-wave theories    
• Market based theories    
• Utility maximization    
• Organization and production theories    
• Dynamic disequiblibrium    
• Price-equilibrium models    
• Rational calculus    
• Conbinatorial theories  

Building a growth machine

   
• Neo-classical theory    
• Innovation theories    
• Technical change theory    
• Central place    
• Profit cycle    
• Product cycle    
• Circular / cumulative causation    
• Supply Side    
• Demand-side    
• Propulsive -- innovative -- creative    
• Technical transfer theory

Environment

Preserving nature and place

   
• Co-evolution    
• Functional approach    
• Agropolitan approach    
• Ecological model

Community

Community development

   
• Community development    
• Faith-based approach    
• Social network    
• Psychological theories    
• Social view

Releasing human potential

   
• Skills mismatch    
• Training theory    
• Educational theory    
• Affirmative action    
• Asset theories

Politics

Exerting leadership

   
• Political process approaches    
• Marxist-based    
• Political economy approach    
• Institutionalist theories    
• Political -- economic model    
• Political-economic theory

Quest for social justice

   
• Integrated disciplines    
• Black capitalism approach    
• Underclass approach    
• Dispersal approach    
• Equity oriented education and training    
• Growth machine    
• Separatism    
• Barrier theory

Robert A Beauregard-author profile

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