I think that theory is right.
Its the force that we used to call 'god' , but really its just the overall regular corrections and adjustments you see from the combined psychologies around resources.
The slightly odd thing humans do is that they have an insulating layer called money that is also malleable, so that resource pinch points can be moved and manipulated to be artificial - ie so a l ot of the population now are feeling the exact same way as they would do in ties of scarcity, but that scarcity is artificial because the abundance of the whole is phenomenal.
If you look at youtube videos of ant colonies, you will see stagnation of activity and death as resources get pinched, and resume very quickly as new resources are added.
The interesting thing here will be what will give first? A freeing up of the system to share resources to remove the artificial feeling of resource scarcity, or elimination of the population to do the same.
The odd thing is that with the war scenario, without revolution of money supply, distribution and access/devaluation of physical resources, it may not reduce the feeling of scarcity. In the US, continued wealth growth and availability has not resulted in lack of scarcity at all. There might be manhattan islands, and aspirational TV but there are huge areas of grinding poverty all over the country, with people lifetime disabled from what we would consider routine injuries eg hernias, eye injuries, broken arms, etc. In some poor areas in the US its genuinely a third world country, with volunteer doctors bringing free medicine in for poor people to travel miles just to get basic antibiotics and stitches.
So you can see how that model pans out.