How experiments can be visionary. Karel Williams Centre for Research in Socio-Cultural Change (CRESC) University of Manchester. Small experiments... big vision . So what? about small econ. experiments which can’t change the world (local procurement, housing retrofit, food and fuel)
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can be visionary
Karel Williams Centre for Research in Socio-Cultural Change (CRESC)University of Manchester
regions, localities + groups
the foundational economy
What’s lost = manufacturing: employment 1970-2010 7mill-2.25 mill by 2010 , no real output increase; so manufing now is 11% of GDP with disemployed male, working class, broken supply chains, failed manufacturing PLCs
Dreams of come back: BIS industrial policy offavoured sectors ie high value manufacturing, life sciences etc; regional policy of competing for inward investment (via better training + infrastructure .
No leverage: sector sizewhen motor vehicles employ 125k, pharma. manufing. <50k; favoured sectors regionally concentrated in the M11 corridor and the Thames Valley
Private sector and state and state supported employment in foundational economy
against fragmentation and value extraction
using the social franchise
Build coordinated provision: point value produce a fragmented economy of profit centres with underinvestment in network ( eg TOCs in trains, BT in telecomms) .
Build regional financial circuits; point value creates local toll booths from PFI schools to train line train tickets; financialized capitalism routes e.g. L.A. pension funds via London
Giant sucking sound ex utilities, supermarkets taking nearly £100 per week per household, pension funds, insurance contributions;
Social investment as useful things for low and steady returns