By the late twentieth century, many doubted whether Indigenous and Local Knowledge (ILK) would survive the millennium, but a surge in their recognition and new insight on their resilience open new perspectives about their future. This paper examines the historical drivers behind the loss of ILK and discusses possibilities for its survival and revitalization. I first examine the long-term impacts of modernization and unfolding capitalism on ILK. Next, I discuss future perspectives in the light of recent developments in science, law, and politics. The paper concludes with a reflection on the role ILK ought to play in a future post-industrial society.