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Revitalizing manufacturing enterprise in the post-industrial void

By Murray Hunter - posted Tuesday, 28 April 2015


Government needs to promote and develop local community industry as a prime tenant of its economic policy.

We must not be scared of decentralization. Australia tried to centralize government, and the EU is one massive failed experiment. We need to restock and take another look at new models of regional cooperation that can promote the advantages of large markets, yet recognize the need to maintain local community markets.

This is another area that requires a new economic dogma for politicians to jump on-board. New economic philosophy/policy wanted here.

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In such as world, we can put the focus back onto community. This is where the economists have to work hard, not to develop regional and global economic models, but to give birth (or rebirth) to the area of community economics. This must be inspiring to the politicians.

We need politicians who are committed to community economy, rather than those who run to Canberra, Washington, or Brussels, and live within their 'bubble worlds' in those places remote from their constituencies.

The cost of not doing this in the near future could be drastic. We already see extensive urban prairies in places like Detroit, closed businesses in small townships, the selling of iconic brands which gave employment to generations of workers, and countries going into bankruptcy.

Australia like many other western countries faces fiscal problems which are being repaired within the current fiscal/economic paradigm of cost/revenue management, by manager politicians. The end of the resource boom is further putting strain on the economy. The US is heavily paying for its wars. Its military expansion has led to many social and economic problems at home. Europe is fiscally grieving over the loss of its industry to the east.

It's time to think about this and change the economic paradigms we exist within today before we become overcrowded with cars and have no enterprise to pursue. The world could return to mass poverty, relative to previous generations very easily. The majority of people won't be able to afford medical services, and three descent meals per day.

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About the Author

Murray Hunter is an associate professor at the University Malaysia Perlis. He blogs at Murray Hunter.

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