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The New Regional Economies
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The New Regional Economies
The US Common Market and the Global Economy


Volume: 2

September 1997 | 207 pages | SAGE Publications, Inc
Traditionally, we take a nationalist view of our economy. Our politics and economics are wedded in the political economy of the nation state and the nationalist economic policies. This "nationalist paradigm" is, however, showing signs of fatigue: The role of the nation state is diminishing as the economy globalizes; our national accounting systems are less effective, technology forces change; trading blocs are emerging; there is less control of exchange rates; regional economies are restructuring; and competitive environments are changing. This book poses that political jurisdictions are not economies but polities, and explores the complex and important economic implications of this thesis. In reality, metropolitan-centered economic regions are the basic economic units and the building blocks of the U.S. economy. The linked, interdependent system of local economic regions form the U.S. Common Market, which in turn thrives within a global context of mutuality and interdependence. William R. Barnes and Larry C. LedeburÆs paradigm shift from the "nation as the economy" to the "national system of local economic regions" changes the framework in which we think about governance and policy and puts this book at the forefront of U.S. economic thought.

 
Introduction and Overview
 
The Nation as Economy
Triumph of a Faulty Paradigm

 
 
The Economic Region
 
The Internal Interdependence of Regions
 
Business Cycles and Local Economies
 
Economic Federalism and the New Political Economy
 
The Regional Economic Commons
 
The Global Commons
 
Intergovernmental Roles in Economic Policy-Making
 
Policy and Governance for the Regional Economic Commons
 
The United States Common Market
Policy and Governance

 
 
Afterword
The Challenge and the Opportunity

 

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