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The Local Economy Movement: An Alternative to Neoliberalism?

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  • John Posey

Abstract

The economic turmoil of the last 2 years has shown that hyper-globalized capitalism is inherently crisis prone, and that it has been unable to create sustainable prosperity. Unfortunately, the left has failed to convincingly refute Margaret Thatcher’s assertion that “there is no alternative.” There is, however, a growing social movement that aims to promote small, locally-scaled enterprises. This essay argues that the local economy movement can potentially provide a unifying principle for a new progressive agenda. However, localizers must take seriously the possible loss of gains from trade. In addition, it is important to resist a naive localism that romanticizes the local while ignoring action at other scales.

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  • John Posey, 2011. "The Local Economy Movement: An Alternative to Neoliberalism?," Forum for Social Economics, Taylor & Francis Journals, vol. 40(3), pages 299-312, January.
    • Handle: RePEc:taf:fosoec:v:40:y:2011:i:3:p:299-312
    DOI: 10.1007/s12143-011-9097-6
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