Energy Prices and Economic Decentralization
Although one of the four alternative scenarios is called "Localisation," that's somewhat misleading. All four scenarios result in a radically decentralized economy; the only difference is in how hard or soft the landing is. Here are some details from the Localisation scenario:
- Businesses which adapt to doing business with local suppliers and local customers survive.
- Those with the knowledge and skills to repair machinery are in particular demand.
- Everyone with a patch of land starts growing food for personal use and to barter for other services.
- Urban residents invade and squat well located agricultural land.
- Local currencies develop.
- Multinationals decentralise to try and adapt to changing supply and demand....
- Most food is grown at home or supplied from local producers.
- People develop micro-businesses to supply goods or services that can be used to trade for essential needs.