Economic theory of place

Professor David Audretsch presented to Adelaidians throughout entrepreneur's week in February and I was lucky to catch him as he talked to Adelaide City Council. His thesis (and new book) is the strategic management of place and he takes a look at all the key economic development theories - from Michael Porter to Richard Florida and from Jane Jacobs to Paul Romer.

Many of you would be familiar with Jane Jacobs and discussions with the former Integrated Design Commission about the importance of design in creative economically successful places.

Of course the design sector are also Knowledge Workers (Paul Romer) and part of the creative class (Richard Florida). I have been a fan of clustering and strengths as sources of competitive advantage ever since I read Michael Porter's Competitive Advantage of Nations.

What I really liked about Professor Audretsch was that he didn't compete with all the other theories, but rather offered a frame to incorporate all of them. And his offering is for all cities and regions, ragardless of their starting point with an explicit acknowledgement that we inhabitants have the power to create the economic success of our place. I recommend a flick through his presentation and hope to more hear about the application of his work in our economic policies.