If the world were utopian, human beings would discover an energy source that is renewable, pollutant free and limitless in power. Such energy could come from breaking nucleic bonds, like fission, or by harnessing an undiscovered force that we are currently unaware of. In this world, consumption – which for us in the real world is the basis of economic stability – could not be exponentially rising, for a utopian environment would have to be civilization in a state of homeostasis, but could be sustained at a manageable level. To avoid the negative affects of resource depletion, every byproduct of the consumption driven economy would be recycled. Using the infinite power source, developed recycling technologies and a compliant citizenry, no receipt paper, food product wrapping or broken computer would be discarded without reentering into the cycle.
Many of the industries that are now staples of economic development would still be profitable. Homes would be built and sold, techno-gadgets could still have their place, and new fleets of automobiles would be introduced with every upcoming year. Electrical grids would never falter. Transportation would be cheap and guilt free. Population growth would be stable. Human and organic waste would be composted. Agriculture would be approached sustainably, utilizing techniques that maintain soil fertility.
Forget the exploitation, forget the complexities of nationalism, forget everything human that makes this scenario impossible, there are still lessons to be learned from the hypothetical vision above. Most importantly, it should be observed that an economy that is neither growing nor shrinking, yet is still functioning, cannot be upheld unless all of the natural capital that goes into the economic process is reused. Even with an infinite energy supply, we are still subjects of the Earth and its geological limits. Thus, if we are somehow able to avoid a peak in energy production in the coming decades, we inevitably will face a shortage of raw materials unless we drastically change our current way of consumption. Most likely, we will be facing a shortage in both.
Climate Change and Peak Oil have already received mainstream media attention, which is good for increasing public awareness on ecological issues, but what about Peak Metals, Peak Phosphorous, Peak Top Soil, Peak Water, Peak Lithium or Peak _____ (the list goes on and on)? It has become evident that civilization will be vulnerable not only to the consequences that arise from fossil fuel dependency, but also to the dwindling supplies of almost every material we use in our daily lives. And just like the current price of oil, the market price for these commodities fails to include impending scarcity. Regrettably, the invisible hand is not taking notice of the visible cliff that lies on the horizon.