DISQUS

If people withdraw into "alternative institutions," doesn't that imply they've already ceded control of the policy-making process to powerful elites?

Extremely sharp increase . . .*

What if a particularly sharp increase in resource scarcity overwhelms the price signal subpoint (b) assumes? Although I don't subscribe to peak oil hysteria, I am somewhat worried by the prospects of an extremely increase in the cost of petroleum extraction. In other words, an abbreviated transition period between readily available oil and the absolute collapse of fossil fuel infrastructure would probably undermine alternative fuel development.