ABSTRACT
Since the early 1980s, rural and small-town places across all OECD states have been challenged by change. Principal among these changes have been those associated with economic restructuring as many places struggle with the transition from natural-resource- or single-industry-dependent economies into more diversified and sustainable economies. The challenge of adjusting to significant globally driven economic change has been exacerbated by a companion shift in public policy approaches to rural and small-town support and renewal. This policy shift, from a Keynesian public policy framework to a neoliberal public policy framework, has witnessed state withdrawal and disinvestment at precisely the time when these rural and small-town places require new tools and new investments. With a rural focus, this chapter outlines and describes the concept of place-based development and place-based policy as it relates to the critical need for supporting more sustainable economies and resilient communities. It first outlines the macro policy transition from a Keynesian to neoliberal public policy framework. This includes a thumbnail description of the general implications of this policy shift for rural and small-town places since the end of the World War II. The chapter then defines both place-based development and place-based policy, including the advantages and disadvantages associated with this approach. The chapter closes with observations about implementing place-based policy and development.
