ABSTRACT
The discipline of local economic development1 is a complex mix of concepts, practices and rhetoric. In this writer’s opinion, the economic development discipline lacks a dedicated coherent body of theory. Some scholars, such as Bingham and Mier (1993, p. ix), disagree and maintain that the theoretical underpinnings of economic development are a compilation of numerous theories derived from a wide variety of disciplines2. Although academic disciplines3 such as economics, geography, resource management, regional science and planning provide significant insights; understanding economic development requires a unique blending of all relevant disciplines (Shaffer et al., p. 72). As a result, Shaffer et al. argued that it is generally accepted, from a practitioner’s perspective, that the concept of economic development as an interdisciplinary field of endeavour. In support, Koo (2005, p. 100) has noted that a “basic knowledge of economic and other related theories is a necessary condition for an in-depth understanding of the [economic] development process”.
