Global economic systems crash not only because of greed, fraud and toxic assets, but because those systems rest on fallacies about the natural world. The Ponzi scams and derivatives swindles of international bankers are no substitute for real economy: the living ecological systems, energy, soils, minerals, forests, and seas. < ?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office">

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As the era of cheap liquid fuels draws to an end, everything about modern consumer society will change. Likewise, developing societies pursuing the benefits of globalization will struggle to grow economies in an era of scarce liquid fuels. The most localized, self-reliant communities will experience the least disruption.

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