A Brief Intro to the
As described in the groundbreaking new book, “RECONOMICS” (January 2020), reconomics is the study and development of economic growth processes that produce resilient revitalization in communities, regions and nations. This is often based on effective coordination of regenerative and/or restorative projects that renew built, natural and social assets. As a result of this research, local leaders worldwide have a proven approach to producing what they all want: resilient prosperity.
They can now address complex agendas without making governance more complicated. Today, virtually every place on Earth needs to simultaneously produce crisis recovery, economic revitalization and community resilience. Properly applied, the RECONOMICS Process does exactly that.
“Process” is the key word. Every successful manufacturer, farmer, business owner and manager on the planet knows that a process is needed to reliably produce anything. That basic management insight is missing in most places that are striving to produce revitalization and/or resilience. Process is seldom present in such situations. As a result, failure is the norm.
Instead, most places stagnate by endlessly producing plans that are never implemented. They launch initiatives that aren’t supported by–and are often sabotaged by—their own policies. They rely on private developers to propose projects, so that governance is reduced to reactive yes/no decisions.
Or they focus on just one or two agendas—like downtown revitalization, heritage renewal or beautification—while ignoring numerous other factors that are crucial to success, like infrastructure renewal, air quality and natural resources restoration.
Or they remain in a stop-start, project-oriented mode, never gaining the momentum and efficiency that comes with an ongoing program. They have to recruit new partnerships—and create new stakeholder engagement efforts—every time they want to do something new. As a result, they fail to produce the single most important outcome: increased confidence in the local future. Armed with that, they automatically attract—and retain—residents, employers and investors.
Instead of creating a place that residents, employers and investors want to be a part of, process-free places rely on baiting them with artificial incentives like tax holidays, free land, and image-boosting marketing campaigns. Such tactics occasionally produce a “win”, but seldom reverse the trajectory of a declining economy or quality of life.
RECONOMICS is the solution. It studies successes and failures worldwide to detect common factors. What’s almost always present in the success stories? What’s almost always missing in the failures? The result is the RECONOMICS Process. It’s the state of the art in reliably, efficiently producing resilient prosperity at the local, regional and national levels. And each step in the process is a potential entry point for you to grow your career or organization.
The most spectacular revitalization and resilience successes are usually the ones that have the most elements of the RECONOMICS Process. One of our goals in training and certifying Revitalization & Resilience Facilitators is to help more places create the complete process. Only then can cities, regions and nations fully tap their potential.