Is Fundamentalism failing?

In a recent essay for the Boston Globe, Harvey Cox asserted that fundamentalist religion is and will fail. Interested readers can access the article at: http://www.boston.com/bostonglobe/ideas/articles/2009/11/08/why_fundamentalism_will_fail/.

Cox believes that:
The very nature of human religiousness is changing in a way inimical to fundamentalist thought. The most rapidly growing spiritual groups today focus not on someone else’s authority, but on a direct encounter with the divine. Whatever else it may mean that so many people call themselves “spiritual but not religious,” it suggests they still yearn for contact with the sacred, but are suspicious of the scaffolding, the doctrines, and hierarchies through which it has often been conveyed.

He concludes:
But a tectonic shift in religion is underway, and the fundamentalist moment is ending. A new and promising chapter in the long story of human faith is beginning. Its untidiness often reminds me of the exuberant earliest years of Christianity. Maturity comes with time. Future historians may look back on the 20th century as a time when something called “fundamentalism” interrupted, but only briefly, the age-old human search for a way to live in the face of mystery, and to envision what Martin Luther King called a “beloved community.”

As one who came from a very conservative Christian community and who studied "fundamentalist" expressions of Islam, Judaism, and Hinduism and who has seen the power of that type of religion, I would not be as confident as Cox is. What do you think?