Time to Replace Globalization with Localization

Globalization is occurring increasingly at the expense of social, environmental and labor improvements, and is causing rising inequality for most of the world. Localization, by contrast, is a process that reverses the trend of globalization by discriminating in favor of the local. The policies bringing about localization are those which increase control of the economy by communities and nation states. The result should be an increase in community cohesion, a reduction in poverty and inequality, and an improvement in livelihoods, social infrastructure and environmental protection, and hence an increase in the all-important sense of security. Copyright (c) 2003 Massachusetts Institute of Technology.