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Upcoming seminar on the Foundational Economy

Upcoming seminar on the Foundational Economy

14 January 2021

Researchers from NICRE and the CCRI are holding an online seminar on Tuesday 26 January 12pm-1pm

The seminar will explore new thinking about the Foundational Economy. The Foundational Economy has the potential to be used in promoting inclusive and sustainable regional development. The idea is already being used to develop public sector procurement policies that help support local SMEs. This could be particularly valuable for businesses based in rural areas, and transform the public plate.

Online seminar for new research

The seminar from Bryonny Goodwin-Hawkins, Damian Maye and Daniel Keech draws on research in the Horizon 2020 ROBUST project. The CCRI is a partner in ROBUST, and learning from the project’s Gloucestershire Living Lab is already being moved ahead by NICRE’s Innovation Projects. NICRE will continue to develop an evidence base on the Foundational Economy and rural enterprise.

2021 will be a year of challenge and change, as COVID-19 continues and realities after Brexit sink in. New challenges join old. The climate crisis still unfolds, and long-term socio-economic inequalities endure. More than ever, alternative economic models for sustainable, inclusive wellbeing are sorely needed. The Foundational Economy is one such model – with Wales already pioneering policy. In this talk, we join with WISERD colleagues to discuss an ‘everyday’ economy that both already exists and can help envision progressive futures.

However, as researchers in rural development and sustainable food systems, we want to raise two cautions for the Foundational Economy agenda, particularly as it is picked up in policies for recovery and beyond. First, growing emphasis on localism risks tumbling into the ‘local trap’ and repeating the pitfalls of earlier approaches to endogenous development. Second, there is a risk that equating foundational and rural (or peripheral) could unintentionally recycle the stereotypes that have already left too many of our regions and communities behind. We reflect on research from the Horizon 2020 ROBUST project to unpack these issues. Drawing from examples – including dynamic procurement systems for the public plate – we view the Foundational Economy from a regional perspective, introduce key foundational dimensions and argue that interconnections between rural and urban are constitutive and must be mutually beneficial.

The seminar is hosted by WISERD, the Wales Institute of Social and Economic Research and Data.

More information can be found on the WISERD website.

Email wiserd.events@cardiff.ac.uk for the Zoom link to join