ABSTRACT
This will have the effect of raising levels of production and productivity, and thus facilitating the full exploitation of development potential. Such a process is neither redistributive nor compensatory, but can be viewed as offering the most substantial and beneficial rewards if it can be made to work efficiently. Again elements of this approach can be found in aspects of Commmunity policy. It is illustrated, for example, in the attempts to encourage better use of national energy resources (VALOREN) and in the emphasis that is being placed on ‘productive investment’ by the new ERDF guidelines.
