ABSTRACT
This chapter discusses two broadly different approaches to local economic development. The first and most common approach is pragmatic and market oriented. Local authorities attempt to cope as best they can in the circumstances, pursuing measures that conform with the advice of central government, adopting a residual kind of role that fits in with the activities of other public and private agencies to which they remain largely subordinate. The second approach is newer, more experimental and less easy to define. It might be called interventionist. Local councils raise awkward questions about the merits of traditional policies and practices and attempt to make a more direct and profound impact on the situation. Such policies are based on a more explicit, coherent, longer-term strategy, and are frequently in conflict with market trends. More significant than the material gains made by a few interventionist initiatives is the practical experience gained and the broader lessons that have been learnt about alternative policies.
