Why the future might hold trouble for us. Part 2
After Part 1, Why capitalism always needs growth to manage debt pressure, we come to part 2. Today: Wealth And Energy Consumption Are Inseparable In a prior study (Garrett, 2011), I introduced a simple economic growth model designed to be consistent with general thermodynamic laws. Unlike traditional economic models, civilization is viewed only as a […]
Read moreWhy the future might hold trouble for us. Part 1
Why capitalism always needs growth to manage debt pressure. Gail Tverberg has many ideas that we will encounter again throughout this blog series. Besides the connection between economic growth and energy, her ideas are primarily based on the realization that capitalism relies on the pre-financing of production. This pre-financing can only be funded with future […]
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