Among the first, basic questions a local corporation would ask: how can a given set of non tradable components become more tradable, so as to provide more producer/consumer options for all involved? In spite of wide variance between tradable and non tradable sectors, they intersect in ways which hold broader production potential than is sometimes realized. Non tradable sectors can become much more flexible and accessible, by incorporating elements that are normally associated with an innovative tradable sector.
Often, local corporations would not choose to directly compete with tradable sector institutions which already exist for traditional manufacture. The better part of tradable goods production doesn't need many (international) locations to provide sufficient product, for consumers as a whole. In recent decades, developing nations are also coming to terms with this circumstance. Indeed, a reassessment is needed, for populations to proceed in an increasingly knowledge based economy.
By no means does this imply that local corporations wouldn't have good production options. Rather, mass production would need to be utilized differently - particularly for building components and infrastructure. Even now, a wide array of tradable goods remain in the wholesale and retail environments of non tradable sectors. How might local corporations take advantage of future mass production potential, only as an integral part of local settings? Which communities would be well positioned to take on the challenge? These areas represent a starting point for investment and income generation, beyond the initial wealth generation of knowledge based services.
Local corporations could eventually compete with other regions to create experiential product, as well. The difference between this form of experiential good versus the directed efforts of - say - Disney, is that results would be gradual, from the spontaneous efforts of individuals acting in concert for common visions. Over time, the cumulative results of group endeavor would generate interest on the part of others. Knowledge use systems would maintain regular ties with other communities utilizing this structure. One benefit of this growing network is that local participants would gain broader travel options, than what now exists for those with small wages - particularly in the U.S.
An important aspect of getting to tradable, is the ability for groups (who are actively considering living/working in a given community), to define consumption patterns for the physical environment at the outset. Local corporations would have the advantage of combining tradable and non tradable sectors under one "roof", which means the benefits of lower overhead and costs accrue to the whole group. One benefit to this set up, is the fact these groups would not have to rely on taxation of assets in order to create services. As a result, greater flexibility in zoning, regulation, and consumption definition is possible.
However: in a long term sense, greater flexibility exists for services based options than for building component options. Once a given community adopts a formula for asset formation and infrastructure which works well, it would basically want to stick with that format. Fortunately, shifts in services provisions (with changing population demand), are easier than changing infrastructure and asset patterns - flexible though their physical layout may be. Hence a broader (more tradable) marketplace for lifestyle options would exist across a given network of local corporations (or knowledge use systems), while a broad services marketplace would exist within each node of the network.
One of the best immediate options for production potential, is more local food production than often exists outside of homes in small communities. Many regions remain hamstrung by present day regulations, which can restrict competition to a mere handful of restaurants in small towns. As a result, many will cook at home when they might have preferred to eat out. How many individuals do my readers know, who wanted to cook for the public, but were stymied by what was required? Restaurants and food service in general, are an excellent hybrid example of tradable/non tradable economic activity, which would immediately benefit from lower overhead in organizational patterns.
A marketplace for time value, would lend a tradable quality to services organization which otherwise hasn't been possible. Even before employment became threatened in services formation, both producers and consumers faced limited choice sets, in part because of the ways organizational capacity needed to be met. In knowledge use systems, time value does not need to conform to a single realm of possibility. Individuals and groups alike would be able to work at a pace which more closely reflects their capabilities and time availability.
For instance, those labeled as handicapped, disabled or otherwise, would gain opportunities for matching services based time with one another, when others don't have sufficient time to match services with them. One could think of this process as including multiple racetracks for ongoing economic endeavor, for tortoise and hare alike. Local education in particular, would make certain that more than one track remains open, so that one's personal time remains fully tradable through the course of a lifetime.