http://energybulletin.net/8990.html
Can global civilization adapt successfully to degradation of the biosphere and depletion of fossil fuels? I argue that it cannot. Important elements of all constituent societies would have to be reformed. Reform would have to be radical and would be uncertain of success. It could be undertaken only in the presence of incontrovertible necessity?a necessity that will reveal itself incontrovertibly only when catastrophic collapse has become unavoidable. I conclude that those who seek to preserve civilization should plan for its survival in restricted regions.
He follows up with some good comments on economics and why we won't change until it's too late.The capacity to produce sustainable income?food, energy, materials?disappears with the natural capital that generates it. Day by day the proportion of capital in our consumption increases. We don?t see that the income portion of our consumption is decreasing as long as we don?t distinguish between consumed income and consumed capital. At some point, retrenching to rebuild our natural capital becomes impossible. If we were to decide to consume only income, we would starve and there would not be any income left over to rebuild capital.
At this point we are trapped. Bankruptcy is inevitable, but we may continue to live still more lavishly each year as long as capital remains to be consumed. The trap is known by ecologists as overshoot. When we finally reach the limits of natural capital, the Earth's support for our presence will decrease suddenly to an astonishingly low level compared to the largesse we have become used to. This necessary consequence of overshoot is called crash, or die-off.