“Andrews: How will some of those changing societal priorities role down to impact individuals?
Hirsch: Every one of us will be impacted by the decline of world oil production. Liquid fuel costs are going to escalate dramatically-that’s what happened in 1973 and 1979, and it will happen again. There will be shortages, which will cause all kinds of problems. There will be rising unemployment and dramatic declines in stock markets. And there will be inflation. It happened before, and it is logical that it will happen again, except this time the pain will last a lot longer.”