I'm more inclined to blame the way how wealth is accounted for. Industrial production fell, and people are losing jobs, not because there is no demand for products (and services) but because the commercial structure to market/distribute those is failing to do that job. The old soviet central planning approach to that eventually collapsed (due to excessive and careless bureaucracy?), now the free market one may be heading towards the same end, through a different route (fall in consumption due to concentration of wealth, temporally disguised by mounting debt?). Perhaps the pursuit of stability is just an illusion? Then again faith in the inevitability of constant (let alone exponential) growth in wealth is obviously false. People confused money (or rather, the notional value of assets) with real wealth, and money seemingly was growing exponentially... except that much of it turned out to not exist after all! But on the long run we did had, and likely will continue to have, real growth in wealth. Man-made social catastrophes are more likely that a fall into some natural malthusian trap.