Facing up to the foundational economy: regional development, public policy and employment in Wales

There has been increasing interest in foundational economy (FE) ideas, with academics seeing the FE as a way of thinking radically differently about local development. Amongst policymakers, the Welsh Government has been a leader in exploring ways to support FE growth. Yet there has been relatively little critical reflection on the potential benefits and drawbacks of policy focusing on the FE in practice. Using Wales as a case study to provide insights and learning into the FE and policy design, we develop an analysis of FE employment and job quality and critically assess the Welsh Government’s policy approach.