The psychology of previous investment is a term coined by James Howard Kunstlerhttp://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

• 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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