The Covid-19 pandemic brought the fragility of global trade and supply chains into stark relief, while the political and economic chaos caused by the war in Ukraine further underline the vulnerabilities of globalisation. The neoliberal economic philosophy of prioritising efficiency over resilience and profits over local prosperity that underpinned the past half century of globalisation has produced massive inequality, persistent economic insecurity, and distrust in institutions. It has run its course. As a new age of economic localisation reunites place and prosperity, practitioners must understand the implications for economies and societies - and for portfolio construction. - Watch Rana Foroohar and Tom Switzer on Portfolio Construction Forum and earn 0.75 CE/CPD hrs