Psychology of previous investment
The "psychology of previous investment" was coined by James Howard Kunstler[1] to describe the sunk costs of the modern urban/suburban lifestyle. It is the reluctance to abandon technologies and standards of urban infrastructure into which humans have already made substantial investments, and is seen as a major contributor to modern energy crises.
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References[edit]
- ^ "Association for the Study of Peak Oil & Gas - USA - Clean Energy Redemption?". Archived from the original on 2008-02-18. Retrieved 2008-02-17.
- The Psychology of Previous Investment - Raise the Hammer
- PetroCollapse New York Conference; October 5, 2005 - Remarks on the subject from Kunstler's website