The Economic Growth Engine "How Energy And Work Drive Material Prosperity"

How Energy And Work Drive Material Prosperity

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Ayres, Robert

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ISBN:9781848441828
Editorial: Edward Elgar
Fecha de la edición:2009
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Nº Pág.:416
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/ Análisis Económico

The authors of this unique book explore the fundamental relationship between thermodynamics (physical work) and economics. They take a realistic approach to explaining the relationship between technological progress, thermodynamic efficiency and economic growth, the findings of which conclude with a fundamental explanation of endogenous growth that is both quantifiable and consistent with the laws of thermodynamics. A major implication of this is that future economic growth is not guaranteed inasmuch as efficiency gains that have driven past growth may not continue in the future.