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Peak oil, declining EROI and the probability of degrowth

Second Conference on Economic Degrowth for Ecological Sustainability and Social Equity, March 2010


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Resource information:
Resource IDhallsced2010
Resource titlePeak oil, declining EROI and the probability of degrowth
Author(s)Charles A. S. Hall
Publication/ sourceSecond Conference on Economic Degrowth for Ecological Sustainability and Social Equity
Date publishedMarch 2010
Summary text/ abstractIn systems thinking we normally divide our problem into two controlling factors, those endogenous to the system under consideration and those exogenous. The latter are also called forcing functions. In recent decades most of our consideration of the economy has been dominated by those who focus on the endogenous factors and that believe that economies are most appropriately controlled by manipulating interest rates, the money supply and so on. The usual economic training emphasizes that fuels and other natural resources are commodities, and hence fungible, substitutable and of limited importance except for their market value. In fact the work of Reiner Kummel and others has shown energy to be THE most important input to economic production, far more important than the economists' traditional labor and capital.
Library categoriesAnarchism & Action, Economics, 'Limits to Growth', Peak Oil, Politics
Added to Free Range Library13/10/2014
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file iconPeak oil, declining EROI and the probability of degrowth [99.5 kilobytes]


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