How does the economy really work? In my view, there are many erroneous theories in published literature.
Articles: economic growth (82)
A steady state economy is defined by a constant population and a constant stock of physical capital.
Since about 2001, several sectors of the economy have become increasingly inefficient, in the sense that it takes more resources to produce a given output, such as 1000 barrels of oil.
It’s déjà vu all over again: another oil “supply shock.” Seems like we’ve had one every few weeks for the past few months.
But another reason oil prices have slid so much is weakness in demand for the product, which may be related to a slowdown of overall world economic growth.
Is it not also time for a government commission on post-growth economics?
The other disheartening part of the story of the environment concerns the things we put back into it and the impact they have on the ecosystems that support all of life, ours included.
The world economy is slowing down and the authorities are fretting.
If you’re a Huffington Post reader, your love of animals has been nurtured by “Hedgehogs Being Adorable,” “Baby Hippo Has Won Our Hearts,” and other such gems.
The introduction just of oil supply and carbon emissions into the liberal field of view pretty much undoes the main story told by mainstream Democrats today.