Local economic development and globalization

Abstract

In order to diminish the risks (threats) and to profit from the opportunities associated with globalization in the context of local economic development, it is necessary to strengthen attitudes towards what is "local" and in conjunction therewith, to develop objectives and design and apply strategies and policies.

In support of the foregoing thesis, the following pages will develop and clarify the concept of local economic development used for purposes of analysis, as well as well as the manner in which the concept of globalization is perceived, its origins, the forces that drive it and its potential impact (risks and opportunities) on economic, political and cultural developmental aspects. The presentation concludes by demonstrating the importance of strengthening attitudes towards the concept of the "local" as well as of formulating and implementing strategies and policies in terms of locally centered and developed objectives (“autochthonous development) in order to successfully overcome the challenge posed by globalization to local development. (The local as key to success of the global).