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"However, in many of the advanced economies, we have had gdp growth has been separated from energy consumption for several decades." Do we? "In recent years,
by tiatia 10y ago
"However, in many of the advanced economies, we have had gdp growth has been separated from energy consumption for several decades."
Do we?
"In recent years, a large share of the world’s manufacturing has been moved to developing countries. This shift gives the illusion that the developed countries can get along with less energy to produce their GDP. This is not really the case. The developed countries find themselves with a need for a large amount of imported goods. Their heavily services-oriented economies tend to grow slowly. This is because, with little energy use, it is difficult for these economies to make productivity gains."
https://ourfiniteworld.com/2016/10/11/why-energy-prices-are-ultimately-headed-lower-what-the-imf-missed/ https://ourfiniteworld.com/2016/10/11/why-energy-prices-are-...
- Spooky23 10y agoPlus the current model is really fragile. Come up with a way to disrupt 4-5 pacific ports at the right time and the world would plunge into depression due to the supply chain disruption.