Based on modern economic theories and their comparative analysis, the role and essence of localism and its derived phrases formed under the influence of globalization and regionalization of the world economic space are clarified. The authors highlight the methodological foundations of localization, transformation of homogeneous and heterogeneous structures of modern regions, instruments of regional and local security and many other developments. Modern trends in the development of local areas in particular and localism in general are highlighted. The advantages and risks of global localization (new organizational design, cost optimization, global hubizm, growing singularity) are identified. The paper argues that parameterization and platformization are the important identification base of localization, which allow local governments to choose the appropriate development strategies (expansion, narrowing, cybernetic). Systematic analysis and generalization of different points of view by mostly foreign authors allow defining localism as a systemic ideology, methodology and practice of hyperconcentration of entrepreneurial and governmental activities within the traditional economic space (linear level), office-entrepreneurial and entertainment business in the form of multi-storey modules and systems (vertical level), as well as digitized networks and nodes (virtual level). Therefore, the paper concludes that localization should be understood as a complex multistructural economic and sociocultural process of microregions development and harmonization with the help of selective regulatory instruments, as well as a verified model of competitive relations between individual taxonomic units. Authors argue, that the modern process of localization is under the influence of creativity, westernization, cosmopolitanization, clustering, intellectualization and collaboration, the systemic influence of which will contribute to the formation of one of the possible strategies of economic activity. At the applied level, European regional localization design is represented by the ever-increasing amount of funding from the European Regional Development Fund. The article identifies the features of the European local-regional taxonomy and shows the role of EU mechanisms and tools in the process of regulating the development of local models. 

globalism, regionalism, localism, locality, NUTS, EU 

The article reveals evolution of systemic paradigms. Their structural composition (type of action, principle of action, action motives, arena of action, defining principle, types of theoretical concepts employed, aims of the analysis) has been compared employing R. Swedberg’s approach. Author’s evolutionary model of systemic paradigms development is built on polemics with T. Kun’s incommensurability thesis: although it might be true for engineering sciences, it is not the same case for the social and economic sciences, whose methodological apparatus usually absorbs the elements of the previous paradigms, rejecting some of their local concepts and principles. The full conceptual incommensurability, however, is hardly achievable, as most of the social and economic phenomena are of evolutionary nature. When research objects receive new systemic qualities economists develop new relevant categories to capture them, but some notions can always be easily translated and explained in the terms of preceding paradigms. The methodological essence, key tenets and categories of the new local innovation paradigm of socio-economic development have been considered. Author argues that the core of the proposed methodological paradigm is made up by the theory of innovation systems, the new regionalism, theory of network society, as well as the concept of the “third industrial revolution”. Key research subjects within the paradigm include analyzing the components of the local environment and functions of institutions, which determine the efficiency of innovation activities. Author explains interrelations between the notions of local innovation system, innovative milieu, institutional thickness, untraded interdependencies, global and local collaborative networks, energy internet, lateral power, distributed capitalism etc. meaning to elaborate a holistic approach for the perception of modern trends of innovation localization. Author proves that the new paradigm, which is focused on the localization of the economic activities in selective areas of global space, provides a systematic understanding of modern trends, shaping the knowledge based economy. 

local-innovation paradigm, localization, locality, network society