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As we mature we are ushered into the complexities of life. But when the willingness to accept these complexities is blunted or eliminated, maturity never arrives. Many remain in an adolescent state preferring an optimistic gloss on a simple-minded model of the world. As Thomas Homer-Dixon wrote recently: "Collectively we have been behaving like adolescents – believing we're invulnerable, living for today while ignoring tomorrow, and sneering at anything that smacks of prudence."
And, we have behaved this way when it comes to the financial legerdemain which has brought the world economy to its knees. The high priests of finance had the adolescent exuberance for trading and making money, but none of the appreciation for the hazards embedded in the complex financial instruments they were selling.
The tragic view of life teaches humility in the face of complexity. That humility is notably lacking in the world of neoclassically trained economists, the ones who run the houses of finance and public policy in nearly every Western economy. The levers and pulleys of the economy seem plainly obvious to them. And, the idea that we could fail to understand the risks we are taking with our financial system or find ourselves dangerously short of critical commodities needed to run modern society is labeled preposterous. (These economists sound a little like the adolescents Homer-Dixon describes above.)
But a deeper understanding of the complexities of a world society embedded in a vastly complex biogeochemical system called the Earth requires a more sober assessment. Homer-Dixon says in his book, "The Upside of Down," that the emphasis on efficiency over resilience in our various human systems has left us vulnerable to the multiple threats of climate change, energy depletion and biodiversity destruction.
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http://www.energybulletin.net/node/48765