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Local economic development (LED) is an approach to economic development, of note in the developing world that, as its name implies, places importance on activities in and by cities, districts and regions. Local economic development combines economic development activities, urban planning, infrastructure development and social development ...
Local development is a relatively young theory in social sciences based on the identification and use of the resources and endogenous potentialities of a community, neighbourhood, city, municipality or equivalent. [1] [2] The local development approach considers the endogenous potentialities of territories.
Community-based economics or community economics is an economic system that encourages local substitution. It is similar to the lifeways of those practicing voluntary simplicity, including traditional Mennonite, Amish, and modern eco-village communities. It is also a subject in urban economics, related to moral purchasing and local purchasing. [1]
Economic development has existed even at a basic level since the earliest recorded communities. However, in the US and several other countries, the concept of community economic development emerged "in response to tenacious poverty and the need for affordable housing, good jobs, affordable health care and quality of life matters needed for human existence."
Daphne Greenwood and Richard Holt distinguish economic development from economic growth on the basis that economic development is a "broadly based and sustainable increase in the overall standard of living for individuals within a community", and measures of growth such as per capita income do not necessarily correlate with improvements in ...
The Local Democracy, Economic Development and Construction Act 2009 (c. 20), or LDEDCA, [2] is an act of the Parliament of the United Kingdom. The legislation places a duty on local authorities to promote understanding of the functions and democratic arrangements of the authority among local people.
Local Economy is a peer-reviewed academic journal publishing papers on local economic development. The journal is published by SAGE Publications in association with the Local Economy Policy Unit (London South Bank University). The editor-in-chief is Andrew Jones (London South Bank University). The journal was established in 1986 and is ...
Economic sociology is the study of the social cause and effect of various economic phenomena. The field can be broadly divided into a classical period and a ...