3 ms·
How much of the inflation rate is tied to the cost of fuel? It's built in to just about everything we buy or produce.
by mark-r 13y ago
How much of the inflation rate is tied to the cost of fuel? It's built in to just about everything we buy or produce.
- dredmorbius 13y agoThat, IMO, is a very interesting question. Arguably, prices should be specified by energy input requirements, with energy's own cost being largely defined by its own EROEI. This is modulated (but not eliminated) by technological capabilities. Charles A.F. Hall has developed this idea among others. Look up thermoeconomics / biophysical economics / ecological economics for more on this theme. Santa Fe Institute and the EconoPhysics Forum also have some interesting work: http://www3.unifr.ch/econophysics/ http://www3.unifr.ch/econophysics/