The economics of energy

This seems to follow the line that economics is the driving force of our living system — -or could be if we followed the right path in an economic sense.

Unfortunately we live in an energy driven system, we do not live in system that functions on economics.

Or put another way, energy (ie oil coal and gas) allows our current economy system to exist. In no way will reworking our economic system produce more energy. That is the fundamental point that politicians, economists and most of the general public are unaware of.

Even the great Keynes was unaware of it. He propose spending our way out of the great depression — -what that really involved was extracting fossil fuels, then burning those fuels to creat the illusion of infinite growth and employment

It still didnt work — -it was one Adolf Hitler who ended the great depression, not Keynesian economics. WW2 was a great fuel burning episode that carried on till 1970 — that was the year the great American Dream ended when the USA was no longer a swing oil producer

As long as our industrial system had cheap surplus fuel to burn, every had a job burning it. Now our fuel supplies are getting more expension (harder to get hold of) there’s less available to pay out as wages — -hence the real wages have been flat for the last 30 years or so

co-author of The End of More, in paperback and kindle on Amazon email

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store