The high tide of the... [industrial] age also happened to be a moment in history when human ingenuity gained an upper hand against the age-old scourg… - James Howard Kunstler

Large-scale corporate enterprise has brought humankind much material comfort in two centuries but at the price of fantastic unintended consequences (externalized costs) ranging from the destruction of local communities to climate change. Large-scale corporations will be vulnerable to the collapse of capital formation markets that must accompany the end of the cheap oil fiesta. Corporate enterprise can certainly be reorganized on the small, local community scale, but it will not be the same as . Corporate enterprise in the Long Emergency may revert to being more public in nature and far less sovereign in power. There may be one exception: The most visible… corporate organization that might survive the Long Emergency may be the church. Whether Catholic or Pentecostal or something new we haven't seen yet; the church won't have to rely on oil supplies. Organized religion doesn't have to traffic in awkward material products, only in beliefs, and it can operate at many scales simultaneously. Because American culture is constitutionally allergic to religious governance, we may have problems if churches are the only large organizations left standing—that is, assuming we still have the same constitution.

It's hard to imagine a more purposeless activity than [an] American-style high school in our time. […] The public questions its basic premises or mode of operation any more than the public questions the economy of suburban sprawl. But [the] high school in our time amounts to little more than daycare for virtual adults in which some learning might incidentally take place, much of it of dubious value.

The American scene changed hugely in the 1920s. Modernity transformed everything from women’s clothing to the human imprint on the landscape. The car liberated rural America and began cluttering up the cities. The first tractors started a revolution on the farm.* Muscular American industry outinvented and outproduced all competitors around the world. Foreigners watched our movies and learned to play jazz. A sense of intoxication ran through Wall Street, prompting excessive risk-taking and wild speculation in any novelty, the participation of easily snookered, inexperienced investors buying stocks with borrowed money (“on margin”), unregulated investment pools that behaved like hedge funds do today, “bucket shops” that amounted to betting parlors, and a great deal of insider banking misconduct around financial markets that were hardly policed at all. After it all crashed in October 1929 the loss of confidence was epic. Decades later, scholars still puzzle over the cause of the Great Depression. It was a reality failure. The things that people believed in proved spectacularly unreliable, especially in the realm of money and other abstract paper extensions of it.