Psychology of previous investment
- Psychology of previous investment
The "psychology of previous investment" is a term coined by James Howard Kunstler [http://www.aspo-usa.com/index.php?option=com_content&task=view&id=318&Itemid=91] 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.
External links
* [http://www.raisethehammer.org/index.asp?id=181 The Psychology of Previous Investment - Raise the Hammer]
* [http://www.kunstler.com/spch_petrocollapse.html PetroCollapse New York Conference; October 5, 2005] - Remarks on the subject from Kunstler's website
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