Making the Arc Famous for a High-Quality Life
In short, how can growth be more inclusive and sustainable than has been managed previously?
At Cambridge Ahead we have spent many years researching and understanding how the economic growth of a world-leading economy like Cambridge can be harnessed to improve the quality of life of existing and new residents alike. In short how can growth be more inclusive and sustainable than has been managed previously?
We know through this research that the Cambridge economy, like others across the Arc, is vibrant and has been resilient over the course of the last two years. Recent research has showed that knowledge intensive sectors were growing employment at five times the rate of other sectors. Regions like the OxCam Arc have a valuable asset in our innovation clusters – but what is the right way to think about that asset in a way that improves quality of life for all?
This is a bold ambition that spans so many of the issues that our communities and industries are dealing with, but it is for this very reason that we believe a new framework is the right strategic place to begin.
We have worked closely with the Bennett Institute for Public Policy at the University of Cambridge to explore how this bold ambition could be made a reality in a specific place.
The wealth economy framework that the Bennett Institute has developed is based upon the principle that as an area we should focus on building and maintaining our stock of the following six capitals:
- Human (health and skills)
- Natural (environment, ecosystems, raw materials)
- Social (community cohesion, trust, social norms)
- Physical (infrastructure, homes, equipment, information and communications technology)
- Institutional (quality and reliability of governance)
- Knowledge (accumulated best practices and ways of doing things)