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The Economic Growth Engine: How Energy and Work Drive Material Prosperity (The International Institute for Applied Systems Analysis)

The Economic Growth Engine: How Energy and Work Drive Material Prosperity (The International Institute for Applied Systems Analysis) by Robert U. Ayres [PDF] Book details ●

Author : Robert U. Ayres

Pages : 448 pages

Publisher : Edward Elgar Publishing Ltd 2010-08-31

Language : English

ISBN-10 : 1849804354

ISBN-13 : 9781849804356

Book Synopsis The historic link between output (GDP) growth and employment has weakened. Since there is no quantitively verifiable economic theory to explain past growth, this unique book explores the fundamental relationship between thermodynamics (physical work) and economics. The authors take a realistic approach to explaining the relationship between technological progress, thermodynamic efficiency and economic growth. Their findings are a step toward the integration of neo-classical and evolutionary perspectives on endogenous economic growth, concluding in a fundamental explanation of endogenous growth that is both quantifiable and consistent with the laws of thermodynamics. For two centuries fossil and other sources of energy (work) have been replacing human and animal muscles. Now our civilization is truly addicted to fossil energy availability at ever low prices. Can increasing efficiency compensate for coming scarcity? This is the crucial question. The most important implication of this

The Economic Growth Engine: How Energy and Work Drive Material Prosperity (The  

The Economic Growth Engine: How Energy and Work Drive Material Prosperity (The International Institute for Applied Systems Analysis)

The Economic Growth Engine: How Energy and Work Drive Material Prosperity (The  

The Economic Growth Engine: How Energy and Work Drive Material Prosperity (The International Institute for Applied Systems Analysis)

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