#29 Go to the future and work back
Instead of trying to construct the entire history of the planet up until now (which I tend to find leads to uncreative planets, very similar to each other) go to the end of the planet's history and work back. This is very much the principle an archaeologist uses when excavating a mound - you start with the most recent layer, which is almost always the destruction layer. The layer below that is the final habitation layer, and down you go.
So try this. Exxilon's civilisation comes to an end with the collapse of its economy and mass starvation following the Exxilon mining disaster in 2996. Now work back to today (eg, 2776, or whenever you like). How does it get to that point? From 2776, the galactic price of Xilo, which could only by mined on Exxilon rose progressively, making it increasingly economically unproductive to do anything on Exxilon which wasn't mining related. From time to time forward-looking governments tried to diversify the planet's economy, but these efforts always failed after a few years because opponents were able to present them as attempts to destroy Exxilon's mining industry. The fantastic wealth of the mining conglomerates and the comparative wealth of everyone else meant that food, medicine, luxury goods could easily be imported. Science and art stifled - the Exxilons were happy to buy these in as commodities, but believed them to be a waste of time for their own people because they didn't directly contribute to mining and mine administration. By 2994, Exxilon had managed to outsource almost every area of life except Xilo extraction. They were completely unprepared for the collapse of the Main Shaft - an enormous open cast excavation going 100s of miles deep into the planet's surface. The Main Shaft collapse instantly cut production by 30%. Given the enormous outsourcing overheads the planet was carrying, its banking system collapsed almost as quickly. Engineers and materials to repair the shaft could not be imported, nor could the maintenance crews for the other shafts. Production rapidly sank to 0%, panic and starvation set in. Within two years, Exxilon life had descended to a medieval village and barter economy. In the meantime, the galaxy had learned to live without Xilo.
Now write a description of the planet which sows all the seeds for this to happen, but places it right at the beginning of this chain of events. So today (2776) people are celebrating with the construction of the first Deep Shaft, and a new contract to supply Xilo to GalakTech. Making a sobre estimate of future earnings, Exxilons have gingerly begun to enlarge their space port, put up a posh hotel, and layout plans for a pleasure city. On the fringes, farmers are rotating their crops, confident that, as long as there are workers, they will have someone to sell their produce to.
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