The Preston Model: Economic Democracy, Cooperation, and Paradoxes in Organisational and Social Identification

The ‘Preston Model’ (PM) has substantially improved the socio-economic outlook of Preston (UK). It is a community wealth-building approach, harnessing local economic power for a more resilient, environmentally sustainable, democratic economy and socially cohesive community, prioritising social value, through private and public sector partnerships. This qualitative research article investigates how people in local ‘anchor institutions’ (major wealth creators and employers ‘anchored’ in Preston) perceive the PM. Focusing on economic democracy and solidarity, and building on organisational and social identity theory, its relation with democratic participation, organisational identification and pride processes enabling social change is examined. Most interviewees doubt its organisational and local impact; nevertheless, they exhibit a sense of pride as its ‘drivers’, attributing to it ‘higher’ ethical values. While the PM exerts a subtle emotional, aspirational, and socio-cultural influence, it still represents a shifting, alternative socio-economic paradigm, emerging through both individual and collective assent, rather than specific policy directives.