Could stagflation bring back the alternative thinking of the 1970s?

It looks like US and world economies are returning to the stagflation that defined my college years in the 1970s. Inflation and stagnation at the same time. Rising costs for fossil fuels and other natural resources drove inflation along with a slowdown in the economy.

That was also an era when we started to try and adapt the economy to a limited planet. Alternative energy, transportation and alternative lifestyles were coming into style.

Since then, more oil was found and technology was able to create new kinds of wealth. A turn toward more "traditional" values for a growing economy remained in mainstream thinking. An economy still dependent, for the most part, on fossil fuels. This has brought us to where we are now.

I'm fairly disappointed that we never made the changes, on a real large scale, that were talked about 50 years ago. There have been lots of innovations around the edges, but mainstream life and business practices haven't really changed that much.

Now that we face another fossil fuel crisis, I wonder how it will pan out? Will the spirit of idealism and change that existed, in my little bubble during my college years, come back into style?