In this paper, we argue that a paradigmatic shift is occurring in economic geography toward a relational economic geography. This rests on three propositions. First, from a structural perspective economic actors are situated in contexts of social and institutional relations. Second, in dynamic perspective economic processes are path‐dependent, constrained by history. Third, economic processes are contingent in that the agents' strategies and actions are open‐ended. Drawing on Storper's holy trinity, we define four ions as the basis for analysis in economic geography: organization, evolution, innovation, and interaction. Therein, we employ a particular spatial perspective of economic processes using a geographical lens.