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Placing the foundational economy: an emerging discourse for post-neoliberal economic development

Russell, Bertie, Beel, David, Jones, Ian Rees ORCID: and Jones, Martin 2022. Placing the foundational economy: an emerging discourse for post-neoliberal economic development. Environment and Planning A 54 (6) , pp. 1069-1085. 10.1177/0308518X221098745

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Emerging in the mid-2010s, the Foundational Economy has been heralded as ‘a compelling counter-project against neoliberalism’ and ‘an alternative pathway … [for] progressive political renewal’. Grounded in a review of cross-disciplinary debates, this paper introduces the concept of the Foundational Economy and places it in relation to heterodox geographic theories of socio-economic development such as the ‘social economy’ and ‘diverse economies’ literature. Whilst there are clear overlaps, the concept of the Foundational Economy can be distinguished through its commitment to (a) a zonal perspective; (b) a focus on maximalist social innovations; and (c) the reconstitution of citizenship. In radical combination, it is argued that the lens of the Foundational Economy facilitates ‘a trenchant critique and denaturalization of current conditions, in tandem with creative explorations of the political economy of alternatives’. The paper concludes by reflecting on current oversights and future research trajectories for Foundational Economy research.

Item Type: Article
Date Type: Publication
Status: Published
Schools: Social Sciences (Includes Criminology and Education)
Wales Institute of Social & Economic Research, Data & Methods (WISERD)
Publisher: Pion
ISSN: 0308-518X
Date of First Compliant Deposit: 16 May 2022
Date of Acceptance: 18 April 2022
Last Modified: 10 Nov 2023 16:47

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