This is a rare document which understands how networks function and how things are interconnected. My own opinion is that the network of society is more resilient than illustrated and will bounce back, but the reality of cascading failures and overly centralized architecture are very valid.
This is a great document using the correct language of degraded performance, cascading failure and resiliance. It is worth the read and highly educational. Copyright warning, I have posted this is scribd, hoping it gets a larger audience. It is the work of Feasta.