“Millions of Markets” in a nutshell – Through advanced technological breakthroughs, the United States becomes highly “self-reliant” in terms of energy, agriculture, manufacturing, and other needs. Local trade soars and consumer affluence rises as technology enables a wider dispersion of the population across the United States.
Three key technological breakthroughs in the first quarter of the 21st century have led to regional self-reliance in matters of energy, health, food production and manufacturing. Known as the “Three Pillars,” their emergence was primarily motivated by advances in a wide range of technologies.
The first pillar is the development of small, safe and affordable nuclear generators, which triggered what has been called the “Nuclear Renaissance.” Used in conjunction with renewable energy sources, to include solar and wind power, they facilitated the widespread decentralization of affordable and stable electricity production. This contributed to the growing adoption of initially hybrid but eventually completely electronic vehicles.
The second technological breakthrough is the widespread adoption of “Intelligent Fabrication,” a set of advanced manufacturing technologies capable of producing small batches of a wide variety of products at reasonable costs. Advancements such as 3D Printing are fueling the expectations of consumers for rapid delivery of highly personalized goods. These technologies have a small footprint and have, collectively, greatly reduced the need for economies of scale in the production of most consumer packaged goods and other products. This has resulted in more regional based manufacturing clusters closer to consumption centers.
The third technological pillar is known as “Total Market Virtualization,” where many markets operate without the physical presence of buyers and sellers. Most households order desired products and services directly from the home and receive them there as well. On-line shopping with prompt delivery to residences has largely replaced physical stores. As goods and services have become more mobile than people, there is less physical commuting and passenger transportation.
In this highly connected and largely self-reliant society, small and mid-sized cities are growing at a faster rate as they have become more attractive than the megacities. Local governments compete with each other to attract investments to create ‘innovation clusters’ that feature a mix of technology, manufacturing, and distribution facilities.
Technological advancements and cheaper energy have ushered in a new age of affluence: average household income has increased, personal consumption has soared and standards of living have improved. It is not a technology-utopia, however. The income gap has widened between the traditional “blue collar”, “white collar”, and the newly established “no collar” creative class. Many traditional jobs have been displaced and those workers struggle to find new vocations. This is especially true for older workers who are not as able to adapt to the newer technology. Also, while new agricultural techniques, mainly genetically modified fruits, vegetables, fish, and livestock have significantly increased the quantity and variety of food products available to consumers; there has been a significant amount of resistance from some sectors of the population. Food considered “100% Organic” is generally available, but at a much higher cost.
In this fast-paced environment, the optimal production site is closer to consumption centers. The affluent and savvy buyers of this world demand products customized to their needs and tastes. While American consumers prefer locally produced goods, they are not inherently against foreign products, provided they meet their high expectations of personalization and delivery speed.
Physical trade between countries is still active – but at a lower level and in different forms. For example, global trade of raw materials has increased while transportation of finished goods has decreased. Raw materials and components are transformed into goods when and where demanded by the final consumer. Also, intellectual property that is used within most local manufacturing is traded freely across the globe although there are some risks concerning theft of these “recipes” and instructions in certain areas of the world.