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Local Sustainable Economic Development LSED
Local Sustainable Economic Development (LSED) is an innovative systemic approach to local and regional development of peripheral areas, that places the emphasis first and foremost on the needs, rights and assets of local communities and their environments. 

In the LSED approach, development is achieved by stimulating the local economy and by securing the active involvement of all local stakeholders in the planning and implementation processes of development in their communities.

Development is beneficial when it can give an affirmative answer to the question: is the development enhancing the wellbeing of the local community and environment in a sustainable manner?

The challenge of healthy development is to anchor development plans in the local context: in economic, social, cultural and environmental activities that affirm values of social justice and environmental health.

Focusing on the “local” and demanding that resources be directed towards the local economy and population is an alternative to the dominant development approach that is geared almost entirely towards “importing” financial and human capital from the center to the periphery. This approach relies strongly on the “trickle-down” model that erroneously holds that local development arises from investment in new immigration from the center. In practice, instead of trickling down, the result is more like a “leaky bucket”: resources are directed to the center and remain there. They do not enter the local economy or reach the people for whom the resources were intended; the local economy grows weaker and more dependent on the center.

As an alternative approach, LSED views locality as a geographic and social anchor, rich in assets; despite social and cultural attributes that may often perceived as liabilities rather than strengths, or even as impediments to development. Locality is the acknowledgement of the ownership of local populations of the resources of their locale and their right to enjoy the fruits of their development.


 
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