Thursday, December 20, 2012


Margaret Thatcher famously said “There Is No Alternative” but to maintain the historical approach to generating flourishing via GDP growth (usually via lowering trade barriers to international trade); this perspective is often labelled as “TINA”.  

This idea has always left me feeling uncomfortable (and my recent studies in Ecological Economics, which included a review of the history of the purpose and benefits or trade, have given some of the reasons why - perhaps the subject for another blog post).  

Anyhow, despite Thatcher's assertion an alternative has been proposed “Local Ownership, Import Substitution”.  This includes social as well as economic aspects to creating flourishing; 

This perspective is often labelled as “LOIS”,  and used in sentences such as “The alternative to TINA is LOIS”!

LOIS is based on, among other things, the idea of "local multipliers".

For more see: 
P.S. All this was prompted by my updates to the following Wikipedia pages - which could use some more work...