Building a New Economics
The Debunking Economics Podcast
Including energy in economic models. It doesn’t have to be that difficult.
0:00
-37:37

Paid episode

The full episode is only available to paid subscribers of Building a New Economics

Including energy in economic models. It doesn’t have to be that difficult.

Energy is largely ignored in economic models. But as Phil and Steve discuss, it doesn’t have be that way. And the solution is relatively simple.
2

So, if economics is all about the allocation of scarce resources, isn’t energy the most scarce resource? And yet its not really included in any economic models. We look at labour and capital as the drivers of growth, but energy is just a contributor to those factors, not a key factor in itself. Yet without energy humans wouldn’t survive and machines wou…

Listen to this episode with a 7-day free trial

Subscribe to Building a New Economics to listen to this post and get 7 days of free access to the full post archives.