Psychology of previous investment
The psychology of previous investment is a term coined by James Howard Kunstler[1] for 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.
See also
References
- The Psychology of Previous Investment - Raise the Hammer
- PetroCollapse New York Conference; October 5, 2005 - Remarks on the subject from Kunstler's website
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