Now that Globalization has ended

By Zachary Alexander on

Unlike Neoliberalism, Globalization passed it expiration date on July 26th, 2006. Although there are many factors that contributed to its demise, the two most important factors are the arrival of “peak oil” sometime in 2005 and the success of Neoliberalism. For those tasked with supporting sustainability, the challenge is how to manage this post-Globalization transition period and ensure the survival of lesser industrialized communities.

A lot of very serious people haven’t acknowledged the end of the Globalization process and still rail against its evils. They go on at length about how Globalization is negatively impacting lesser industrialized communities around the world. However, the challenges that nations face today are not a result of the bogeyman called Globalization. They are a result of the techno economic changes that will lead to the next long waves of innovation and prosperity.

It is in this economic climate that a post-Globalization School of Thought is most needed. Many of the techno economic changes that have followed as a result arrival of peak oil are only now gaining traction. The more costly forms of fuel production like tar sands are now economically feasible. However, countries that promote sustainability are not going to allow companies from countries with lax standards to undercut their domestic companies.

And the current status quo isn’t capable of handling the transition to this new future because it is based on Neoliberalism, which holds the belief that government hurts innovation. On the other hand, neither evolution nor creative destruction take prisoners. You and your peers can’t reason with them. You have got to out run them, out work them, and government can help make sure that everyone pulls their weight.

Zachary Alexander