by Heineken » Sat 21 Jun 2008, 16:23:14
$this->bbcode_second_pass_quote('CrudeAwakening', 'O')ne of the consequences of living in a society as complex as our own is that our mutual interdependencies are, to a large extent, hidden from our immediate awareness.
It is only when the links in the chain that form the base of the pyramid of complexity begin to break, that we become truly, viscerally, aware of the extent to which we rely on others for our survival.
The division of labour and its attendant specialization of skills may be a boon in times of economic growth and abundance, but it renders us supremely vulnerable to more difficult times. Ask yourself how well you would cope if you were forced to barter to support yourself. If you are unable to feed yourself, what can you offer someone else in return for food? It's a sobering thought.
At $250 oil, I expect to see significant structural unemployment, as service industries become gutted, with enormous pressure on government coffers to provide assistance, and a declining tax base from which to draw as economic recession bites hard. The pressure to print money may become irresistible, and we know where that leads.
Excellent, important post.
We must hammer away at reminding people of all the fantastically complex, crucial interrelationships and interdependencies that are balanced on cheap oil like an elephant on the head of a pin.
These relationships evolved, step by quickening step, over a period of a century or more.
$250 oil would be accompanied by an unraveling the likes of which the world's never seen.