the world into continued growth. But as Michael Hudson (2012) states, 'debts that can't be repaid, won't be,' and the consequences of widespread debt defaults will not be good news. Unfortunately, mainstream economists, including those in government, seem oblivious to the close relationship between energy, debt, and economy, and this means they are unable to see that expensive oil is one of the primary underlying causes of today's economic instability. Consequently, they craft their intended solutions (e.g. stimulus packages, quantitative easing, low interest rates to encourage borrowing, etc) based on flawed, growth-based thinking, not recognising that the new economics of energy (Alexander, 2012c) means that the growth model, which assumes cheap energy inputs, is now dangerously out-dated. When growth-based economies do not grow, household, firms, and nations struggle to repay their debts, and quickly things begin to unravel in undesirable ways. 2.7 Consumer Malaise Finally, what makes the problems outlined above all the more troubling is the fact that high consumption lifestyles, so often held up as the peak of human development, are in many cases engendering an unexpected discontent or malaise among those who live them (Lane, 2000; Pickett and Wilkinson, 2010). There is in fact a mounting body of sociological and psychological evidence (Kasser, 2002; Alexander, 2012d) indicating that lives orientated around achieving high levels of consumption often result in such things as time poverty, stress, physical and mental illness, wasteful status competition, loss of community, disconnection from nature, unhappiness, and even a sense of meaninglessness or alienation