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The well-being of Europe’s citizens depends less on individual consumption and more on their social consumption of essential goods and services – from water and retail banking to schools and care homes – in what we call the foundational economy. Individual consumption depends on market income, while foundational consumption depends on social infrastructure and delivery systems of networks and branches, which are neither created nor renewed automatically, even as incomes increase. This historically created foundational economy has been wrecked in the last generation by privatisation, outsourcing, franchising and the widespread penetration of opportunistic and predatory business models. The distinctive, primary role of public policy should therefore be to secure the supply of basic services for all citizens (not a quantum of economic growth and jobs). Reconstructing the foundational has to start with a vision of citizenship that identifies foundational entitlements as the conditions for dignified human development, and likewise has to depend on treating the business enterprises central to the foundational economy as juridical persons with claims to entitlements but also with responsibilities and duties. If the aim is citizen well-being and flourishing for the many not the few, then European politics at regional, national and EU level needs to be refocused on foundational consumption and securing universal minimum access and quality. If/when government is unresponsive, the impetus for change has to come from engaging citizens locally and regionally in actions which break with the top down politics of ‘vote for us and we will do this for you’.

Abstract only
Foundational matters
The Foundation Economy Collective

group. The collective includes academics of many different nationalities and regional identities, who all wanted to write a short book that would be of broad relevance to European citizens. Limits of space and available case material meant that we could not do justice to the diversity of Europe, let alone explore differences in other countries beyond. We also did not always succeed in finding the language to discuss complex issues in an accessible way. But we hope our audience will fill in some of the gaps and develop our argument so that this book can mark a new

in Foundational economy
Oonagh McDonald

) on an individual bank basis shows that, at end-1985, there were almost identical numbers of net lenders and net borrowers…. Twelve banks of various nationalities, out of a total of 472 reporting inter­ national business, accounted for half of all net international interbank lending, and 37 for three-quarters.9 So, not only was the setting of rates in some collective way familiar, but the context of banking in London was one in which the emergence of LIBOR as an interest rate benchmark seemed appropriate, given the size the market for interbank lending and the

in Holding bankers to account
Scale of demand and the role of competences
Suma S. Athreye

overseas competition, but for others the consequence of the late UK start in the software has also meant that the stiffest competition they face is from US competitors. This is clear from table 8.4. Table 8.4 Nationality of the main overseas competitors No. of serious competitors 1–2 3–5 Over 5 US firms 12 6 1 European firms 7 2 – Other firms 3 1 1 Evolution of the UK software market 153 Competition, competitive strategies and barriers to growth of firms in the UK software sector The discussion thus far has shown that, as a whole, the UK software industry has been

in Market relations and the competitive process