Why Localization is the New Economic Development

From the rise of Plenitude Economics to the tantalizing signs of peak car ownership, there's plenty of writing on the wall for business-as-usual-economics. But sharing that with others isn't always easy. Rob Hopkins recently shared why questioning perpetual economic growth at a local planning meeting made him feel like Captain Beefheart. Here he takes another stab at explaining why localization is the only sensible economic path forward:

Around the world, communities are actively exploring this notion of localisation as economic development. Mervyn King, Governor of the Bank of England, recently stated: '[this] is not like an ordinary recession where you lose output and get it back quickly. You may not get it back for many years, if ever, and that is a big long-run loss of living standards for all people in this country.' Might it be that engaging with this as an opportunity rather than as a disaster, seeing the strengthening of local economies as a historic opportunity to rethink our economy from the ground up, might be a better approach? The experience of Transition initiatives in the five years since the idea was first mooted would seem to suggest so.

Tags: Activism | Economics | United Kingdom