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.
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© 2015 Ari-Veikko Anttiroiko
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Anttiroiko, AV. (2015). Process View of Local Economy. In: New Urban Management: Attracting Value Flows to Branded Hubs. Palgrave Pivot, London. https://doi.org/10.1057/9781137532640_2
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DOI: https://doi.org/10.1057/9781137532640_2
Publisher Name: Palgrave Pivot, London
Print ISBN: 978-1-349-70942-7
Online ISBN: 978-1-137-53264-0
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