Why Localization is the New Economic Development

via internet business politics

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.

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