The stories we tell about "the economy" in discourses of regional economic development play an active role in shaping our economic realities. The construction of more equitable, democratic and ecologically-sound economies must involve an interrogation of our assumptions about what “the economy” is, how it works, and how these conceptions shape our senses of agency and possibility. I argue in this thesis that key texts in regional economic development present a concept of economy that renders the interrelationships between social, economic and ecological processes invisible or beyond ethical contestation, restricts the field of economic possibility, and generates a problematic sense of necessity in the pursuit of endless growth and competition. Effectively enacting different forms of economic relationship requires different economic ontologies. After exploring in some detail, through engagement with the work of Butler, Laclau and Mouffe and Latour, the proposition that "the economy" is socially-produced and that economic ontologies can be "performative,” I investigate the alternative economic ontologies of Karl Polanyi, Stephen Gudeman and J.K. Gibson-Graham. Offering a conceptualization of economy as a process of actively constructing livelihoods in which human and more-than-human participation are recognized and the ethical nature of this interdependence is placed at the forefront of economic negotiation and construction, I distill a provisional toolbox of economic questions, concepts and coordinates which might become sites of new learning, imagination and construction when placed in the hands of communities who seek a different kind of development.

Ecological economics has arisen over a period of three decades with a strong emphasis on the essential need to recognise the embeddedness of the economy in the biophysical. However, that element of realism is not matched by an equally well informed social theory. Indeed the tendency has been to adopt mainstream economic concepts, theories and models formulated of the basis of a formal mathematical deductivist approach that pays little or no attention to social reality. Similarly mainstream economic methods are employed as pragmatic devices for communication. As a result ecological economics has failed to develop its own consistent and coherent theory and failed to make the link between the social and the economic. In order to reverse this situation the social and political economy must be put to the fore and that is the aim of social ecological economics. This paper provides a brief overview of the arguments for such a development. The prospect is of unifying a range of critical thought on the social and environmental crises with the aim of informing the necessary social ecological transformation of the economy. / Series: SRE - Discussion Papers