Re:Can Economic Growth Last?
by emodendroket on Monday September 14, 2015 @10:04AM
(#10215089)
OK. Imagine there are no more fossil fuels tomorrow. Is the economy going to keep chugging along, unaffected by this change?
[ Parent
| on HN ]
That is not what this is about. I have a problem when physical models are naively applied to economic models, i.e. "let's assume global supply is a liquid with variable viscosity" and the whole econophysics approach.
The article is not hardcore econophysics though, but basically a little bit of regression and then deference to physics without any economics.
Re:Can Economic Growth Last?
by icebraining on Monday September 14, 2015 @10:27AM
(#10215212)
Was the argument that the economy never had downturns? Because I don't think that's what's being argued against.
Obviously the economy would be affected. But would it die forever?
Re:Can Economic Growth Last?
by emodendroket on Monday September 14, 2015 @10:32AM
(#10215233)
I think we could sum up the argument like this:
1. Continued economic growth requires continued increased energy use.
2. Any energy source will eventually generate so much waste heat that the planet becomes uninhabitable.
3. Therefore, sustained economic growth is impossible.
How could the economy possibly plow through and ignore the physical limitations of the Earth? The author anticipates one might argue a larger portion of the economy goes to services of various points but suggests reasons this is implausible.
Re:Can Economic Growth Last?
by icebraining on Monday September 14, 2015 @10:49AM
(#10215327)
The simple answer is: by expanding beyond Earth. Achievable right now: putting computers in orbit.
Re:Can Economic Growth Last?
by emodendroket on Monday September 14, 2015 @12:00PM
(#10215712)
I suppose that's a possibility but we're a pretty long way from having space colonies and it's not entirely clear how we would power such an endeavor.
Re:Can Economic Growth Last?
by icebraining on Monday September 14, 2015 @12:05PM
(#10215738)
It's not entirely clear when and how we'll hit the theoretical limit of power usage either, particularly if efficiency keeps increasing. All this discussion is about hypothetical situations.