The theory and practice of local economic development has been increasing in significance in the last two decades. This paper offers a critique of the current discourse on local economic development (LED) drawing on the body of knowledge related to complex adaptive systems (CAS) and their properties. Furthermore, it develops on previous research on a proposed institutional framework for LED, resulting in a generalized model referred to as the nexus model, applicable to multistakeholder settings

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... that span a variety of domains and geography for working with complexity at multiple scales and levels. The model is useful in the LED context for nurturing processes of social dialogue, and the creation of economic and social value. The application of the model is itself a demonstration of some of the principles of CAS including emergence, sensitive dependence on initial conditions and self-organization, albeit at a meta-level and in the realm of concepts. Within LED, the nexus model may now be applied not only at district and municipal level, but also at all geographic, administrative, economic and sectoral levels and scales.