Preston Model and Community Wealth Building

Through a deep examination of what has become known as the ‘Preston Model’, this book explores an innovative approach to local economic development that utilises economic democratisation to realise both social and economic objectives. The first part of the book examines the main strands of the Preston Model framework and what makes it different to other urban regeneration schemes: the combination of local anchor institution procurement to generate and retain local wealth, and the development of cooperatives to fill gaps in local supply chains. The chapters in this section consider the Preston Model as viewed through different lenses: politics and society, community, economics, democracy, trade unionism, language and communication, education and transferability. The second part explores the influences and applications of the Preston Model, in theory and practice, in selected locations and various circumstances worldwide. This includes discussion of key ideas such as economic democracy, social enterprise and the creation of capacity for cooperative self-government, alongside essays on prominent international examples of similar approaches, which can inform and in turn be informed by the Preston Model. This book is essential reading for those interested in regional and national policy, economic democracy and alternative economic and political ideas.

"The importance of themes discussed in this volume goes far beyond Preston and even the North-West of England. The book makes a convincing case for the principles and ideas underlining the Preston Model to become a template for the regeneration of local economies across the country struggling with the consequences of funding cuts. With its emphasis on the role of co-operative values and principles as a means for sustainable socio-economic development and change this monograph offers an original and refreshing perspective on topics stalemated by outdated orthodoxies. This inspirational reading demonstrates that impactful changes are achievable even with a minimum of resources when the energy of the community is involved. The book is also ‘selling’ the Preston Model to the world, because it makes an endorsement to the ideas and shared history that belong to generations of thinkers, social dreamers and most brave social actors who happened to find a way to improve the life of communities and make places liveable and lovable." - Olga Kuznetsova, Reader in Comparative Business Studies, Manchester Metropolitan University, UK"Solidarity economy in the making, the Preston model is a demonstration of a path to democratize and re-localize the economy. The book presents rich discussions about this evolving project, uncovering its complexity and ambition but also its diverse understandings and interpretations. As the Mondragon model it is looking to for inspiration, the Preston experiment continues to inspire communities wishing to take back control over their economy and the commons."- Sonja Novkovic, Professor of Economics and Academic Director of the International Centre for Co-operative Management, Saint Mary’s University, Canada and Chair of the International Cooperative Alliance’s Research Committee

Julian Manley is a researcher in the Centre for Citizenship and Community at the University of Central Lancashire, and ex-chair and founding member of the Preston Cooperative Development Network.Philip B. Whyman is professor of economics and co-director of the Lancashire Centre for Business and Management Research (LCBME) at the University of Central Lancashire.