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Open Access Publications from the University of California

Book Review Resilience, Crisis and Innovation Dynamics. New Horizons in Regional Science series

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Stemming from ecology studies, the interdisciplinary concept of resilience has been gaining significance and notoriety towards the understanding of socioeconomic systems, reverberating the prevailing feelings of uncertainty and insecurity. Emanated from the extent, the depth and the duration of the recent (i.e. erupted in years 2007-8) world-wide financial and economic crisis, the prevalence of such feelings – and thus, the emergence of the concept of resilience – is no surprise. Indeed, the crisis has exposed the highly engaged with globally footloose activities, socioeconomic systems to exogenous disturbances (shocks) and resilience is, precisely, interwoven with the capacity of socioeconomic systems to move through multiple equilibria. Particularly, under such an evolutionary perspective, resilience may point to the capacity of socioeconomic systems, not only to respond successfully to short-term disturbances, but also to sustain long-term development.

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