The Decentralization Which Matters Most

How might decentralized options contribute to long term growth and economic sustainability? Granted, there are certain periods when centralized power structures hold certain advantages in this regard. But once governmental budgets start to extend well beyond revenue sources, centralized power gradually wanes in the long run. Indeed, we may have already entered a period when centralized power holdings actually detract from our economic potential. 

If so, what can be done? The structural framing of decentralization potential has yet to be fully explored. Meanwhile, current dialogue re decentralized options tends to be in reference to specific circumstance and factors, rather than multi system alignments. Yet the latter holds substantial possibilities for future dynamism, not to mention more sustainable economic outcomes. 

One way to think about such alignments, is how general or national equilibrium also translates into the resource potential of knowledge production. While the cumulative effects of this circulatory (primary to secondary market) environment are complex and vast, they still contain basic elements which could respond to systems design. Ultimately, local microcosms of defined equilibrium would feature complex services generation alongside local tradable sector activity. 

Presently, mature economies continue to benefit from highly complex financial systems for many important knowledge production activities. However, the extent to which these systems can further develop along similar lines, is increasingly in doubt. As it turns out, extensive price making in high skill time based product, limits entry into these vital markets not just in terms of production, but also consumption. While price making is certainly an understandable impulse, when most participants elect this route, others are left unable to coordinate more closely for the resource capacity which is actually at their disposal. And in this instance, the relevant resource is of course our aggregate time use potential.

Fortunately, defined local equilibrium could pick up where the possibilities of national general equilibrium for knowledge production, tend to leave off. Time as a valid economic unit, would lessen the need for full monetary reimbursement of a wide range of activities which people find particularly worthy of their own efforts. One reason it is so important to develop local environments which nurture knowledge production, is that extensive price making in high skill time value, has also led to political unrest and polarization. Not only would new institutions for knowledge production make it feasible for citizens of limited means to reengage with others, the rural urban divide could also be meaningfully addressed as well.