Dennis, J. and Stanley, L. orcid.org/0000-0003-3882-8682 (2023) The de-globalisation of capital? The political economy of community wealth building. New Political Economy, 28 (5). pp. 677-692. ISSN 1356-3467
Abstract
Community wealth building (CWB) is a strategy for local economic development that aims to (re-)circulate wealth within the places that produce it – a kind of de-globalisation of capital. CWB has come to prominence in the UK due to its implementation in Preston and endorsements from the Corbyn-led Labour Party. However, CWB has come under criticism for promoting protectionism. As a way into the political economy of CWB, this article analyses this criticism. We do so by bringing the policy debate in the UK into dialogue with political economy literature on protectionism and nationalism. We show that protectionism is as much a political weapon or slur used to discredit interventionist development strategies as it is an analytical concept at home in technical economic discourse. On this basis, we argue that CWB is not protectionist neither in its policy proposal nor in its wider worldview. However, CWB does limit itself to the local without a clear redistributive mechanism between municipalities and so risks siloing local areas from one another.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2023 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group. This is an Open Access article distributed under the terms of the Creative Commons Attribution-NonCommercial-NoDerivatives License (http://creativecommons.org/licenses/by-nc-nd/4.0/), which permits non-commercial re-use, distribution, and reproduction in any medium, provided the original work is properly cited, and is not altered, transformed, or built upon in any way. |
Keywords: | Community wealth building; de-globalisation; protectionism; new municipalism |
Dates: |
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Institution: | The University of Sheffield |
Academic Units: | The University of Sheffield > Faculty of Social Sciences (Sheffield) > Department of Politics and International Relations (Sheffield) |
Depositing User: | Symplectic Sheffield |
Date Deposited: | 16 Dec 2022 11:24 |
Last Modified: | 26 Sep 2024 15:43 |
Status: | Published |
Publisher: | Taylor and Francis Group |
Refereed: | Yes |
Identification Number: | 10.1080/13563467.2022.2159353 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:194278 |
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