Markets adjust, people change, and societies are dynamic enough to slowly ward off cataclysmic disaster, because it doesn't happen overnight. It's in our nature to dream big and solve problems. Expect much more small scale urbanized agriculture and that will drastically reduce water usage and transportation costs. We have been dealing with hungry people since the beginning and it will continue to be a problem, but we are nowhere near the carrying capacity because the very concept of carrying capacity keeps going up, as it has for 5000 years. Every time we imagine we're at the end we progress. With the hyper explosion of information and technology in the last 50 years, why would people think we'd stop coming up with new ideas, processes, and practices?
Not one cataclysmic disaster, but small-scale ones, building up over time in their frequency and severity, as infrastructure can't keep up. I would hold that we already have exceeded our carrying capacity. It's not that the planet might not have the theoretical resources, but for that last 20 years, of not longer, we have been using resources faster than we can replenish or replace them, on a large scale. Up until now, carrying capacity has not been limited by having plants and animals available, but by the ability to hunt or cultivate them. We
are ruining soil, we
are ruining deltas, we
are overfishing, etc.. We will not hit a wall overnight, and there will be stop-gaps, but we would need a miracle to be able to keep up.
Urbanized agriculture, FI, might reduce transportation costs, but it won't reduce consumption (the reduced consumption will quickly be eaten up by the increased demand). It will be a way to manage to keep up with increased consumption, but can only hope to promise the moon if we expect magic fairy dust to fertilize it, power, and irrigate it. The amount of water treatment, exposed space to grow crops, and oil needed to keep it working will still be going up, as the population's needs increase, while oil, and any resources that rely on it (practically everything) go up in cost. Without a miracle-replacement for oil, and plenty of riches, how are you going to keep it growing? Just as importantly, who is going to start implementing possible fixes
many years before a crisis?