Eventually, […] [we] will have to contend with the problems of the Long Emergency: the end of industrial growth, falling standards of living, economic desperation, declining food production, and domestic political strife. A point will be reached when the great powers of the world no longer have the means to project their power any distance. Even nuclear weapons may become inoperable, considering how much their careful maintenance depends on other technological systems linked to our fossil fuel economy.

Money is a wonderful thing. It started out in human history as hard currency, generally gold or silver. These are commodities that are deemed to have intrinsic value but also act as a means of abstractly representing wealth accumulated out of other real commodities. Relatively little hard currency ever circulated freely in the preindustrial world. In that world, most wealth was actual, existing in the form of land, palaces, fleets of boats, bolts of cloth, barrels of grain, standing timber, herds of cattle, and so forth. These were generally things that could be traded, and exchanges of these items were often facilitated through the medium of gold or silver, hence the term "medium of exchange." [The] hard currency could also be acquired by theft or plunder, though that did not necessarily affect its value. Note that the value of [the] hard currency is transcultural. Gold and silver had high value to the Europeans, the Chinese of the Sung dynasty, the Inca, the Aztecs, the ancient Egyptians, and the California Forty-niners.
The industrial experiment took the idea of currency (money) to the next level of abstraction—as hard currency can represent actual goods, so paper currency can represent hard currency and actual goods. As trade increased and took place over ever-greater distances, paper promises to pay hard currency began to steadily take the place of the hard stuff itself, which was cumbersome, hard to lug around in large quantities, and subject to theft in transit. So, to streamline these trades, all kinds of certificates were used as equivalents to hard currency: individual IOUs, bills of lading, letters of credit from rich people, [and] promissory notes issued by guilds. In time, the use of paper certificates became… more normative and conventionalized. Protocols of exchange were established. Institutions were created to process them. This process of managing monetary affairs—of wealth abstracted in [a] paper—was called finance.

The attrition of global populations by disease[s] may be unavoidable. Some... may regard it as the inevitable revenge of nature against the hubris of a human species arrogantly exceeding the carrying capacity of its habitat. Some may regard it as a moral victory against wickedness. Some may view it in the therapeutic mode as a positive development for the health of the planet. Many self-conscious "humanists" have militated for the goal of reducing population growth—though most of them would have... preferred widespread birth control [using contraceptive methods like the birth pill and condoms, ironically made from cheap oil] to a die-off. But that kind of thinking might have been just another product of the narcotic comfort of cheap oil, as merely stabilizing the earth’s population at current levels (or even 1968 levels) would arguably still have left humanity beyond the earth’s carrying capacity. Apart from these issues of attitude and ethics, however, a major decline in world population, or change in demographic profiles, is apt to have profound and strange repercussions on everyday life.

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Finance came to be viewed as a productive activity itself rather than a means to promote production. The public was no longer buying stock to invest in enterprises that would pay dividends over time, but merely because one could get rich from buying and selling stocks. As more people bought in, stock prices climbed still higher—a dangerous positive feedback loop.

According to the , sea levels rose by ten to twenty centimeters during the twentieth century and are currently rising by about two millimeters a year, which is at the upper range of the rate of rise for the last century. With global warming accelerating, this is apt to increase. The accepted prediction is that sea levels will rise during the twenty-first century by about fifty centimeters, or a little under two feet, though some scientists predict a full meter. […] One-sixth of the people in the world live[s] in coastal zones within one meter of sea level. This is the… outside context problem so alien to contemporary experience that the public and its leaders can really find no way to process the information and figure out what to do about it—and for the excellent reason that it is not a problem with a direct solution. It is more [of] a condition without a remedy. If the major shipping ports… end up being submerged, humankind will just have to work around it. The disruptions to world trade might be epochal, gigantic, […] [and] tragic. It seems obvious that the human race will simply have to adjust, even if that means adjusting to a new reality of severely lower expectations in living standards, comfort, and amenities. […] When the time comes, …[we] will just have to move to higher ground.