Just look at what happened with the collapse of the USSR, for example - that was just 30 years ago and affected a massive part of the world. Hyperinflation, many people had to resort to small-scale farming to feed themselves, specialists and academics with advanced degrees had to become taxi drivers and many older people had to resort to dumpster diving to survive. Crime of all sorts went way up. All sorts of factories/organisations/societies/buildings were near abandoned/were sold off for scrap and became derelict.