Global Economic Collapse?

Following on from the post of 7 Mar; first the disaster scenarios - the immediate
impact on existing institutions:
As shown by the financial crisis, world economies are on a knife edge - a rapidly thinning edge from what Paul Gilding is saying. Economic collapse is inevitable as basic resources run out and growth, the underlying assumption in many economic theories, is no longer possible. Something drastic needs to be done. And that something is already being done - as covered in Diamandis' talk. There are new disruptive technologies that completely change the game. The troubles is that changing the game at this stage and so quickly will invalidate the business model of a number of multi-trillion dollar industries. In this context - what does "too big to fail" mean? What happens to people employed by industries who's whole basis for existence have been removed? Hence economic collapse again.
Damned if we do and damned if we don't.

As an example of the impact of transformative technologies, it is only necessary to look to the internet itself. In less than two decades it has already has a disastrous effect on a number of long established commercial operations. The recording industry has been the most notable one - particularly due to the narrowness of their viewpoint and the collateral damage they are willing to inflict. But game changing impacts on journalism, education and retail are also in the offing, at various stages of development.

Consider then what will happen when other new disruptive technologies are added to the mix. Cheap energy and 3D printing spread the revolution to manufacturing most utility services. From there we can predict flow-on impact to mining and construction (through new materials) and transport (both people and goods). Further development of ubiquitous communication through mobile devices will allow abstract human interaction activities, such as finance, being brought back into the control of the individual.

The reaction from the internet impacted industry groups can be considered to be indicative of the sort of fight-back that may be expected from other corporate bodies once their justification for existence is called into question. The recording industry is relatively minor and ineffectual in this context (and their response has been ironically un-imaginative). What happens when the much larger Oil industry starts to find itself becoming obsolete?

[Sidebar: This has already started and has been going since the 1970's when the question of oil dependency was first raised. The continuing importance of oil to our culture and lifestyle shows how effective the response has been to date. However, it cannot continue indefinitely as supplies get lower. On the other hand, oil is valuable for much more than just fuel and the industry is unlikely to ever die entirely - as long as they don't kill themselves (exhaust reserves) in trying to remain on the centre stage]

New industries will come into existence and forward looking corporate entities will transform themselves to suit the new environment. Some, like Apple, may even manage to transform the environment as well (they still changed themselves but in doing so they defined a new market position to colonise). The question is whether these new entities will be able to grow into place fast enough to cover the removal of the existing ones - and also fast enough to protect themselves from the flailing death throes of their predecessors. The struggle for survival in the face of changing conditions will still be there.