The Basque socioeconomic model (BSEM): a Lonergan perspective

Abstract

Bernard Lonergan maintained that economies are goods of order which, when properly disposed, make possible the regular provision of the material conditions for the fuller flourishing human. Lonergan’s economic thought tried to understand the economy related to a society’s civic institutions, political orders, and cultural traditions. In addition, he wished to explain the normative rhythms of economic development and the conditions of its dynamic equilibrium. In this sense, Lonergan’s analysis presents an alternative to conventional accounts of the kind of economic progress the Basque Country has enjoyed in recent decades, in ways that still resonate with the Basque Country’s emphasis on the centrality of the productive process and the values of its people.

Leveraging (in)formal early-mover and diligent-follower advantage mechanisms to attain international niche market leadership: insights from Basque “hidden champions”

“…There are two more peculiarities of the Basque economy that may curtail the applicability of our results to other geographies. The Basque Country is a high-trust society (Hoyt-O'Connor et al, 2022) and one with a rather conservative attitude towards financing growth and other business transactions (Kamp, 2020;). These features may contribute to an overriding preference for informal measures to leverage advantage mechanisms, as we found among our sample of INMLs.…”