Of course, as to peak oil we can also think that the model(s) (in the short-medium term) are fcking wrong: as most models have an implicit assumption of inifite demannd (or demand to the level of maximum production).
If demand falls dramatically then there might not be peak oil after all (especially if, in the mean time, or dear leaders are prescient enough to take this oppportunity to convert our economies from black to green)
Can you explain this?
If that is the case, the "old state" cannot be simply described as "Anglo Disease". Most economists teach a theoretical framework that has been shown to be fundamentally useless. -- James K. Galbraith
Old state: low prices Chaos: The current ups and downs New state: high prices
But again, peak oil might be wrong if demand goes down and there is a massive switch from black to green (energy) before demand rises again.
There's also no guarantee of stability. Because in fact we haven't really had economic stability for the last thirty years - far from it.
What we've had is a relatively stable political system which has been implemented and sustained using economic jargon as a rhetorical narrative device.
Expecting that economic jargon - which is made of sandcastles floating on bullshit, as JK Galbraith has almost pointed out - to provide an insight into any stable political system in the future might possibly be optimistic.
