| Summary: | This article explains the particular conformation and dynamic of the integrativeelements of the relationship between the tangible and intangible aspects in the processof local development of San Juan Nuevo de Parangaricutiro (Michoacán, México). On one hand, the historical characteristics and their connection to the way thecommunity faces natural adversity; on the other, the creation of a participative and democratic leading style and the role of selection in the constitution of social capital and the local endogenous nucleus. In the same way, the decisive role played by the intangible aspects, in specific, the role of the meta local forces, in this dynamic is emphasized. The author supports the idea that local development is the result of a dynamic of feedback and mutual growth among the tangible and intangible aspects, in a sequence that starts with the maturation and accumulation of one of these aspects in the community, widening the possibilities of development. In this dynamic, the role played by the meta local forces operating in the backings of the collective memory, long term linking the different moments of the process and serving as factors of re impulse within the feedback, is decisive. The author also explores the importance of the public policies in the successive moments of the dynamic between tangibles and intangibles in the local development and the concept of reversibility in the construction of this dynamic.
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