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demise will coincide with the end of the cheap-oil age. For better or worse, many of the circumstances we associate with globalism will be reversed. Markets will close as political turbulence and military mischief interrupt trade relations. As markets close, societies will turn increasingly to import replacement for sheer economic survival. The cost of transport will no longer be negligible in a post-cheap-oil age. Many of our agricultural products will have to be produced closer to home, and by more intensive labor as oil and natural gas supplies become increasingly unstable. The world will stop shrinking and become larger again. Virtually all the economic relationships among persons, nations, institutions, and things that we have taken for granted as permanent will be radically changed . Life will become intensely and increasingly local. (en) |
