I was in Australia recently. I was primarily speaking at the competitive cities conference. However, I also did some masterclasses, and caught up with the Centre’s Australian resilience research. At the conference, I was privileged to share a platform with Ed Glaeser, professor of economics at Harvard and author of The Triumph of the City. At one point he mentioned the problem of the ‘boondoggles’ – I did not know the term, but I now know it means a pointless scheme which wastes time and money. However, in my jet lag, I thought he said ‘boom goggles’, which I took to mean those who always see the imminent arrival of a new economic boom
Opinion Piece - Blog
Ted Howard, founder of the Evergreen Co-operative Initiative, told us what we could want, in a fabulous CLES, NewStart, Co-operativesUK and Hub Westminster event I chaired last night. For me the question he posed is so relevant to the task of regenerating failing places in the UK. The places which have received endless regeneration monies, have lost their economic purpose, and are searching for a new and vibrant future.
Since my last blog on voodoo economic development raised some comments and discussion, I thought I would explain it some more.
I have written elsewhere that within local government, there is an emerging crisis in local economic thinking, policy and strategy. I believe, the government has some fragments of great ideas, and is straining to be radical, but its shrouded in austerity, there is slow progress and a disjuncture in logic. It’s voodoo economic development!