Energy And The Wealth Of Nations Understanding The Biophysical Economy

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Energy and the Wealth of Nations

Energy and the Wealth of Nations [Pdf/ePub] eBook ISBN-10: 9781441993984
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Publisher: Springer Science & Business Media
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Energy and the Wealth of Nations by Book Resume:

For the past 150 years, economics has been treated as a social science in which economies are modeled as a circular flow of income between producers and consumers. In this “perpetual motion” of interactions between firms that produce and households that consume, little or no accounting is given of the flow of energy and materials from the environment and back again. In the standard economic model, energy and matter are completely recycled in these transactions, and economic activity is seemingly exempt from the Second Law of Thermodynamics. As we enter the second half of the age of oil, and as energy supplies and the environmental impacts of energy production and consumption become major issues on the world stage, this exemption appears illusory at best. In Energy and the Wealth of Nations, concepts such as energy return on investment (EROI) provide powerful insights into the real balance sheets that drive our “petroleum economy.” Hall and Klitgaard explore the relation between energy and the wealth explosion of the 20th century, the failure of markets to recognize or efficiently allocate diminishing resources, the economic consequences of peak oil, the EROI for finding and exploiting new oil fields, and whether alternative energy technologies such as wind and solar power meet the minimum EROI requirements needed to run our society as we know it. This book is an essential read for all scientists and economists who have recognized the urgent need for a more scientific, unified approach to economics in an energy-constrained world, and serves as an ideal teaching text for the growing number of courses, such as the authors’ own, on the role of energy in society.

Energy and the Wealth of Nations

Energy and the Wealth of Nations [Pdf/ePub] eBook ISBN-10: 3319662198
Author: Charles A.S. Hall,Kent Klitgaard
Publisher: Springer
File Size: 1944 KB
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Energy and the Wealth of Nations by Charles A.S. Hall,Kent Klitgaard Book Resume:

In this updated edition of a groundbreaking text, concepts such as energy return on investment (EROI) provide powerful insights into the real balance sheets that drive our “petroleum economy.” Hall and Klitgaard explore the relation between energy and the wealth explosion of the 20th century, and the interaction of internal limits to growth found in the investment process and rising inequality with the biophysical limits posed by finite energy resources. The authors focus attention on the failure of markets to recognize or efficiently allocate diminishing resources, the economic consequences of peak oil, the high cost and relatively low EROI of finding and exploiting new oil fields, including the much ballyhooed shale plays and oil sands, and whether alternative energy technologies such as wind and solar power can meet the minimum EROI requirements needed to run society as we know it. For the past 150 years, economics has been treated as a social science in which economies are modeled as a circular flow of income between producers and consumers. In this “perpetual motion” of interactions between firms that produce and households that consume, little or no accounting is given of the flow of energy and materials from the environment and back again. In the standard economic model, energy and matter are completely recycled in these transactions, and economic activity is seemingly exempt from the Second Law of Thermodynamics. As we enter the second half of the age of oil, when energy supplies and the environmental impacts of energy production and consumption are likely to constrain economic growth, this exemption should be considered illusory at best. This book is an essential read for all scientists and economists who have recognized the urgent need for a more scientific, empirical, and unified approach to economics in an energy-constrained world, and serves as an ideal teaching text for the growing number of courses, such as the authors’ own, on the role of energy in society.

The Chinese Oil Industry

The Chinese Oil Industry [Pdf/ePub] eBook ISBN-10: 1441994106
Author: Lianyong Feng,Yan Hu,Charles A. S. Hall,Jianliang Wang
Publisher: Springer Science & Business Media
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The Chinese Oil Industry by Lianyong Feng,Yan Hu,Charles A. S. Hall,Jianliang Wang Book Resume:

The Chinese Oil Industry: History and Future presents a wealth of tables and figures with new data on Chinese fossil fuel production and consumption, together with a peak oil model to forecast future trends in energy supply and demand. Energy experts in China and the United States provide you with a unique overview of the entire Chinese oil industry. The authors discuss trends in production and consumption of global significance through to the middle of the 21st century, including the energy returned on energy invested (EROI) for China’s oil and gas. The role of oil in the industrialization of China is described as are four phases in the history of the Chinese oil industry. Detailed coverage of resources and exploration, pipeline development, refining and marketing, petroleum and natural gas pricing policies, and international cooperation is followed by consideration of conservation, renewable energy, and environmental impact. The authors also address the importance of coal and the probable future of coal production. - Offers a comprehensive view of the Chinese oil industry - Presents new and previously unpublished data - Covers history and future trends in production and consumption - Introduces a new peak oil model for China - Discusses EROI trend of oil and natural gas and its consequences for the Chinese economy - Written from an objective viewpoint by leading energy experts

The First Half of the Age of Oil

The First Half of the Age of Oil [Pdf/ePub] eBook ISBN-10: 1461460646
Author: Charles A. S. Hall,Carlos A. Ramírez-Pascualli
Publisher: Springer Science & Business Media
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The First Half of the Age of Oil by Charles A. S. Hall,Carlos A. Ramírez-Pascualli Book Resume:

According to the conventional wisdom, we live in a post-industrial information age. This book, however, paints a different picture: We live in the age of oil. Petroleum fuels and feedstocks are responsible for much of what we take for granted in modern society, from chemical products such as fertilizer and plastics, to the energy that moves people and goods in a global economy. Oil is a nearly perfect fuel: Energy dense, safe to store, easy to transport, and mostly environmentally benign. Most importantly, oil has been cheap and abundant during the past 150 years. In 1998, two respected geologists, Colin Campbell and Jean Laherrère, published a detailed article announcing that the “end of cheap oil” would happen before 2010, which meant that the world would face a peak, or at least a plateau, in global daily oil production in the first decade of the new millennium. Today, two billion people under the age of 14 have lived the majority of their lives past the point when this century-long growth in oil supplies came to an end, which also marks the end of the first half of the age of oil. This transition has ushered in a new reality of high oil prices, stagnating oil supplies, and sluggish economies. In this book, a leading authority on energy explores the contributions and continuing legacy of Colin Campbell and Jean Laherrère, the two geologists who modified the terms of the debate about oil. The book provides a unique perspective and state-of-the-art overview of today’s energy reality and its enormous economic and social implications. - Covers a topic that eclipses climate change as the most important but least understood challenge for contemporary society - Explores the works of Colin Campbell and Jean Laherrère, the leading authorities in the field of Peak Oil, authors of “The End of Cheap Oil” (Scientific American, 1998), and founding members of the Association for the Study of Peak Oil & Gas - Addresses a broad audience of scientists, engineers, and economists in a format that is accessible to the general public - Provides a complete overview of the basic geological, chemical, physical, economic and historical concepts that every oil consumer should understand - Presents the latest information on oil production, reserves, discoveries, prices, and fields in easy-to-understand graphs and plots

Anthill Economics

Anthill Economics [Pdf/ePub] eBook ISBN-10: 1633886530
Author: Nathanial Gronewold
Publisher: Rowman & Littlefield
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Anthill Economics by Nathanial Gronewold Book Resume:

Does modern economic theory violate the basic laws of nature and physics? That is the question that award-winning environmental and energy writer Nathanial Gronewold sets out to answer in Anthill Economics. Drawing from the nascent field of biophysical economics, Anthill Economics puts forth a radical new way of thinking: as 21st-century citizens, the global economy truly is our human ecosystem. It is where raw materials are sourced, goods are supplied, energy is converted, and capital is exchanged. Shouldn't it stand to reason that the same principles that affect animal ecosystems (like population density, habitation patterns, and energy return on investment) similarly apply to our –albeit more complex –human ecosystem, too? With an innovative and cross-disciplinary approach, Gronewold draws comparisons from both the animal kingdom and the atomic world. The rollercoaster-like rise and fall of the caribou population on a remote island can teach us about resource allocation. The behavior of squirrels gathering nuts is a lesson in energy return on investment. Could the high unemployment rates of anthill colonies shed light on problems with the human job market? And, will global warming change these patterns for humans and insects alike? Furthermore, if certain laws of physics can be used to explain the distribution of energy in a complex physical system, could these same laws also explain the distribution of money in a complex economic system as well? This clearly written book full of illuminating ecological analogies provides a more complete understanding of human commerce shaped by the rules of nature and laws of physics.

Enough Is Enough

Enough Is Enough [Pdf/ePub] eBook ISBN-10: 1609948076
Author: Rob Dietz,Daniel W. O’Neill
Publisher: Berrett-Koehler Publishers
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Enough Is Enough by Rob Dietz,Daniel W. O’Neill Book Resume:

It’s time for a new kind of economy We’re overusing the earth’s finite resources, and yet excessive consumption is failing to improve our lives. In Enough Is Enough, Rob Dietz and Dan O’Neill lay out a visionary but realistic alternative to the perpetual pursuit of economic growth—an economy where the goal is not more but enough. They explore specific strategies to conserve natural resources, stabilize population, reduce inequality, fix the financial system, create jobs, and more—all with the aim of maximizing long-term well-being instead of short-term profits. Filled with fresh ideas and surprising optimism, Enough Is Enough is the primer for achieving genuine prosperity and a hopeful future for all. “Humans seem to be intent on confirming the argument of biologist Ernst Mayr that higher intelligence may be a lethal mutation. But the grim prognosis is not inevitable. This lucid, informed, and highly constructive book shows that with the will to act, solutions can be found to build a steady-state economy geared to meeting human needs.” —Noam Chomsky “Rob Dietz and Dan O’Neill bring clarity and style to their impassioned and meticulous analysis, offering the way to a better quality of life and a sustainable future for all.” —Kate Pickett, Professor of Epidemiology, University of York; cofounder, The Equality Trust; and coauthor of The Spirit Level “Dietz and O’Neill create a remarkable vision—a world with enough prosperity and happiness for everyone, not just for a few. This book will restore your hope in the future and give you specific things you can do to help!” —Thom Hartmann, internationally syndicated talk show host and author of twenty-four books

The Routledge Handbook of Energy Security

The Routledge Handbook of Energy Security [Pdf/ePub] eBook ISBN-10: 1136850627
Author: Benjamin K. Sovacool
Publisher: Routledge
File Size: 1770 KB
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The Routledge Handbook of Energy Security by Benjamin K. Sovacool Book Resume:

This Handbook examines the subject of energy security: its definition, dimensions, ways to measure and index it, and the complicating factors that are often overlooked. The volume identifies varying definitions and dimensions of energy security, including those that prioritize security of supply and affordability alongside those that emphasize availability, energy efficiency, trade, environmental quality, and social and political stewardship. It also explores the various metrics that can be used to give energy security more coherence, and also to enable it to be measured, including recent attempts to measure energy security progress at the national level, with a special emphasis placed on countries within the Organization of Economic Cooperation and Development (OECD), countries within Asia, and industrialized countries worldwide. This Handbook: • Broadens existing discussions of energy security that center on access to fuels, including "oil security" and "coal security." • Focuses not only on the supply side of energy but also the demand, taking a hard look at energy services and politics along with technologies and infrastructure; • Investigates energy security issues such as energy poverty, equity and access, and development; • Analyzes ways to index and measure energy security progress at the national and international level. This book will be of much interest to students of energy security, energy policy, economics, environmental studies, and IR/Security Studies in general.

The Changing Wealth of Nations 2018

The Changing Wealth of Nations 2018 [Pdf/ePub] eBook ISBN-10: 1464810478
Author: Glenn-Marie Lange,Quentin Wodon,Kevin Carey
Publisher: World Bank Publications
File Size: 1460 KB
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The Changing Wealth of Nations 2018 by Glenn-Marie Lange,Quentin Wodon,Kevin Carey Book Resume:

Countries regularly track gross domestic product (GDP) as an indicator of their economic progress, but not wealth—the assets such as infrastructure, forests, minerals, and human capital that produce GDP. In contrast, corporations routinely report on both their income and assets to assess their economic health and prospects for the future. Wealth accounts allow countries to take stock of their assets to monitor the sustainability of development, an urgent concern today for all countries. The Changing Wealth of Nations 2018: Building a Sustainable Future covers national wealth for 141 countries over 20 years (1995†“2014) as the sum of produced capital, 19 types of natural capital, net foreign assets, and human capital overall as well as by gender and type of employment. Great progress has been made in estimating wealth since the fi rst volume, Where Is the Wealth of Nations? Measuring Capital for the 21st Century, was published in 2006. New data substantially improve estimates of natural capital, and, for the fi rst time, human capital is measured by using household surveys to estimate lifetime earnings. The Changing Wealth of Nations 2018 begins with a review of global and regional trends in wealth over the past two decades and provides examples of how wealth accounts can be used for the analysis of development patterns. Several chapters discuss the new work on human capital and its application in development policy. The book then tackles elements of natural capital that are not yet fully incorporated in the wealth accounts: air pollution, marine fi sheries, and ecosystems. This book targets policy makers but will engage anyone committed to building a sustainable future for the planet.

Rediscovering Geography

Rediscovering Geography [Pdf/ePub] eBook ISBN-10: 0309577624
Author: Rediscovering Geography Committee,Commission on Geosciences, Environment and Resources,Division on Earth and Life Studies,National Research Council
Publisher: National Academies Press
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Rediscovering Geography by Rediscovering Geography Committee,Commission on Geosciences, Environment and Resources,Division on Earth and Life Studies,National Research Council Book Resume:

As political, economic, and environmental issues increasingly spread across the globe, the science of geography is being rediscovered by scientists, policymakers, and educators alike. Geography has been made a core subject in U.S. schools, and scientists from a variety of disciplines are using analytical tools originally developed by geographers. Rediscovering Geography presents a broad overview of geography's renewed importance in a changing world. Through discussions and highlighted case studies, this book illustrates geography's impact on international trade, environmental change, population growth, information infrastructure, the condition of cities, the spread of AIDS, and much more. The committee examines some of the more significant tools for data collection, storage, analysis, and display, with examples of major contributions made by geographers. Rediscovering Geography provides a blueprint for the future of the discipline, recommending how to strengthen its intellectual and institutional foundation and meet the demand for geographic expertise among professionals and the public.

Science and the Wealth of Nations

Science and the Wealth of Nations [Pdf/ePub] eBook ISBN-10: 1527569403
Author: Bernard C. Beaudreau
Publisher: Cambridge Scholars Publishing
File Size: 1654 KB
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Science and the Wealth of Nations by Bernard C. Beaudreau Book Resume:

As Paul Krugman pointed out in his 2013 New York Times Op-Ed piece entitled “The New Growth Fizzle,” idea-based growth theory has been a bust. In this volume, an alternative approach is presented, one that, unlike existing growth theory, is consistent with the laws that govern material processes in general, with the historical record from time immemorial, and with data. Specifically, it provides compelling rationalizations of the 1970s productivity slowdown, Robert Solow’s information paradox and the failure of policy in Western industrialized nations to restore growth rates. Drawing from classical mechanics and thermodynamics, it provides a consilient account of the material processes that were the very subject of political economy in the 19th century and economics in the 20th and 21st centuries.

Pathways to Urban Sustainability

Pathways to Urban Sustainability [Pdf/ePub] eBook ISBN-10: 030944456X
Author: National Academies of Sciences, Engineering, and Medicine,Policy and Global Affairs,Science and Technology for Sustainability Program,Committee on Pathways to Urban Sustainability: Challenges and Opportunities
Publisher: National Academies Press
File Size: 924 KB
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Pathways to Urban Sustainability by National Academies of Sciences, Engineering, and Medicine,Policy and Global Affairs,Science and Technology for Sustainability Program,Committee on Pathways to Urban Sustainability: Challenges and Opportunities Book Resume:

Cities have experienced an unprecedented rate of growth in the last decade. More than half the world's population lives in urban areas, with the U.S. percentage at 80 percent. Cities have captured more than 80 percent of the globe's economic activity and offered social mobility and economic prosperity to millions by clustering creative, innovative, and educated individuals and organizations. Clustering populations, however, can compound both positive and negative conditions, with many modern urban areas experiencing growing inequality, debility, and environmental degradation. The spread and continued growth of urban areas presents a number of concerns for a sustainable future, particularly if cities cannot adequately address the rise of poverty, hunger, resource consumption, and biodiversity loss in their borders. Intended as a comparative illustration of the types of urban sustainability pathways and subsequent lessons learned existing in urban areas, this study examines specific examples that cut across geographies and scales and that feature a range of urban sustainability challenges and opportunities for collaborative learning across metropolitan regions. It focuses on nine cities across the United States and Canada (Los Angeles, CA, New York City, NY, Philadelphia, PA, Pittsburgh, PA, Grand Rapids, MI, Flint, MI, Cedar Rapids, IA, Chattanooga, TN, and Vancouver, Canada), chosen to represent a variety of metropolitan regions, with consideration given to city size, proximity to coastal and other waterways, susceptibility to hazards, primary industry, and several other factors.

Understanding the Changing Planet

Understanding the Changing Planet [Pdf/ePub] eBook ISBN-10: 9780309157230
Author: National Research Council,Division on Earth and Life Studies,Board on Earth Sciences and Resources,Committee on Strategic Directions for the Geographical Sciences in the Next Decade
Publisher: National Academies Press
File Size: 550 KB
File Format: Pdf
Read Count: 4581524

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Understanding the Changing Planet by National Research Council,Division on Earth and Life Studies,Board on Earth Sciences and Resources,Committee on Strategic Directions for the Geographical Sciences in the Next Decade Book Resume:

From the oceans to continental heartlands, human activities have altered the physical characteristics of Earth's surface. With Earth's population projected to peak at 8 to 12 billion people by 2050 and the additional stress of climate change, it is more important than ever to understand how and where these changes are happening. Innovation in the geographical sciences has the potential to advance knowledge of place-based environmental change, sustainability, and the impacts of a rapidly changing economy and society. Understanding the Changing Planet outlines eleven strategic directions to focus research and leverage new technologies to harness the potential that the geographical sciences offer.

Spain’s Photovoltaic Revolution

Spain’s Photovoltaic Revolution [Pdf/ePub] eBook ISBN-10: 1441994378
Author: Pedro A. Prieto,Charles A. S. Hall
Publisher: Springer Science & Business Media
File Size: 1694 KB
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Read Count: 2173789

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Spain’s Photovoltaic Revolution by Pedro A. Prieto,Charles A. S. Hall Book Resume:

The Energy Return on Energy Invested (EROI or EROEI) is the amount of energy acquired from a particular energy source divided by the energy expended, or invested, in obtaining that energy. EROI is an essential and seemingly simple measure of the usable energy or “energy profit” from the exploitation of an energy source, but it is not so easy to determine all of the energy expenditures that should be included in the calculation. Because EROI values are generally low for renewable energy sources, differences in these estimates can lead to sharply divergent conclusions about the viability of these energy technologies. This book presents the first complete energy analysis of a large-scale, real-world deployment of photovoltaic (PV) collection systems representing 3.5 GW of installed, grid-connected solar plants in Spain. The analysis includes all of the factors that limit and adjust the real electricity output through one full-year cycle, and all of the fossil fuel inputs required to achieve these results. The authors’ comprehensive analysis of energy inputs, which assigns energy cost estimates to all financial expenditures, yields EROI values that are less than half of those claimed by other investigators and by the solar industry. Sensitivity analysis is used to test various assumptions in deriving these EROI estimates. The results imply that the EROI of current, large-scale PV systems may be too low to seamlessly support an energy and economic transition away from fossil fuels. Given the pervasiveness of fossil fuel subsidies in the modern economy, a key conclusion is that all components of the system that brings solar power to the consumer, from manufacturing to product maintenance and life cycle, must be improved in terms of energy efficiency. The materials science of solar conversion efficiency is only one such component. Sunny Spain represented an ideal case study as the country had the highest penetration of solar PV energy at 2.3 percent of total national demand as well as state-of-the-art expertise in solar power including grid management of intermittent, modern renewable systems. This book, written by a uniquely qualified author team consisting of the chief engineer for several major photovoltaic projects in Spain and the world’s leading expert on the concept and application of EROI, provides a comprehensive understanding of the net energy available to society from energy sources in general and from functioning PV installations under real-world conditions in particular. The authors provide critical insight into the capacity of renewable energy sources to fill the foreseeable gap between world energy demand and depletion rates for fossil fuels. · Presents the first comprehensive study of the EROI of large-scale solar PV systems in a developed country · Uses real-world operational data rather than laboratory approximations and extrapolations · Describes the dependence of one alternative energy source on the goods and services of a fossil-fueled economy · Has global implications for the potential of renewable energy sources to replace dwindling reserves of fossil fuels · Written with the first-hand knowledge of the chief, on-site engineer for many solar installations in Spain together with the leader in the development and application of the concept of EROI

Children's Health, the Nation's Wealth

Children's Health, the Nation's Wealth [Pdf/ePub] eBook ISBN-10: 0309166608
Author: Institute of Medicine,National Research Council,Division of Behavioral and Social Sciences and Education,Board on Children, Youth, and Families,Committee on Evaluation of Children's Health
Publisher: National Academies Press
File Size: 1302 KB
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Read Count: 6913437

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Children's Health, the Nation's Wealth by Institute of Medicine,National Research Council,Division of Behavioral and Social Sciences and Education,Board on Children, Youth, and Families,Committee on Evaluation of Children's Health Book Resume:

Children's health has clearly improved over the past several decades. Significant and positive gains have been made in lowering rates of infant mortality and morbidity from infectious diseases and accidental causes, improved access to health care, and reduction in the effects of environmental contaminants such as lead. Yet major questions still remain about how to assess the status of children's health, what factors should be monitored, and the appropriate measurement tools that should be used. Children's Health, the Nation's Wealth: Assessing and Improving Child Health provides a detailed examination of the information about children's health that is needed to help policy makers and program providers at the federal, state, and local levels. In order to improve children's health-and, thus, the health of future generations-it is critical to have data that can be used to assess both current conditions and possible future threats to children's health. This compelling book describes what is known about the health of children and what is needed to expand the knowledge. By strategically improving the health of children, we ensure healthier future generations to come.

The Political Economy of Sustainability

The Political Economy of Sustainability [Pdf/ePub] eBook ISBN-10: 178536801X
Author: Fred P. Gale
Publisher: Edward Elgar Publishing
File Size: 1521 KB
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Read Count: 1157223

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The Political Economy of Sustainability by Fred P. Gale Book Resume:

This theoretical and practical book builds on the knowledge that sustainability’s value pluralism cannot be reconciled with the value monism of classical, neoclassical, nationalist or socialist political economy. Developing the concept of sustainability value (SV), which requires integrating economic (exchange), social (labour), environmental (intrinsic) and cultural (use) values in all processes of extraction, manufacturing, trade, consumption and disposal, the book reformulates our understanding of key political economy topics such as trade, investment, preference formation, corporate governance and the role of the state. The book illustrates how SV is being realised via multi-stakeholder networks which, forming at the community, national and global levels, enable the required cross-value deliberation.

The Unity of Science and Economics

The Unity of Science and Economics [Pdf/ePub] eBook ISBN-10: 149393466X
Author: Jing Chen
Publisher: Springer
File Size: 605 KB
File Format: Pdf
Read Count: 84524

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The Unity of Science and Economics by Jing Chen Book Resume:

This book presents a new economic theory developed from physical and biological principles. It explains how technology, social systems and economic values are intimately related to resources. Many people have recognized that mainstream (neoclassical) economic theories are not consistent with physical laws and often not consistent with empirical patterns, but most feel that economic activities are too complex to be described by a simple and coherent mathematical theory. While social systems are indeed complex, all life systems, including social systems, satisfy two principles. First, all systems need to extract resources from the external environment to compensate for their consumption. Second, for a system to be viable, the amount of resource extraction has to be no less than the level of consumption. From these two principles, we derive a quantitative theory of major factors in economic activities, such as fixed cost, variable cost, discount rate, uncertainty and duration. The mathematical theory enables us to systematically measure the effectiveness of different policies and institutional structures at varying levels of resource abundance and cost.The theory presented in this book shows that there do not exist universally optimal policies or institutional structures. Instead, the impacts of different policies or social structures have to be measured within the context of existing levels of resource abundance. As the physical costs of extracting resources rise steadily, many policy assumptions adopted in mainstream economic theories, and workable in times of cheap and abundant energy supplies and other resources, need to be reconsidered. In this rapidly changing world, the theory presented here provides a solid foundation for examining the long-term impacts of today's policy decisions.

Beyond GDP

Beyond GDP [Pdf/ePub] eBook ISBN-10: 3319128205
Author: Matthew Kuperus Heun,Michael Carbajales-Dale,Becky Roselius Haney
Publisher: Springer
File Size: 1457 KB
File Format: Pdf
Read Count: 6722649

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Beyond GDP by Matthew Kuperus Heun,Michael Carbajales-Dale,Becky Roselius Haney Book Resume:

This book uses the metaphor “The economy is society's metabolism” as a springboard to develop a rigorous theoretical framework for a better system of national accounts which goes “Beyond GDP” and is relevant to the age of resource depletion. Society is entering a new era in which biophysical limits related to natural resource extraction rates and the biosphere's waste assimilation capacity are becoming binding constraints on mature economies. Unfortunately, the data needed for policy-makers to understand and manage economic growth in this new era are not universally available. All stakeholders need a new way to understand our economy in the context of the biosphere’s ability to provide essential natural capital, and we suggest that detailed information about materials, energy, embodied energy, and energy intensity should be routinely gathered, analyzed, and disseminated from a centralized location to provide markets and policymakers with a more comprehensive understanding of the biophysical economy. However, a firm theoretical foundation is needed before proceeding along this new path, which this book is intended to provide. After arguing that the stock of manufactured capital is an important driver of material and energy demands imposed upon the biosphere, a new accounting framework is derived from the laws of thermodynamics to reflect the fact that material and embodied energy accumulate within the capital stock of economic sectors. This framework extends the Energy Input-Output (EI-O) techniques first developed by Bullard, Herendeen, and others to estimate energy intensity of economic products. Implications from the new framework are discussed, including the value of economic metrics for policy-making, the need for physically-based rather than product-based EI-O formulations, a re-assessment of the concept of economic “growth,” and an evaluation of recycling, reuse, and dematerialization. The framework also provides an opportunity to assess an array of definitions for Daly's “steady-state economy” in relation to the ideal of a sustainable economy. The book ends with a list of steps to be taken in creating a more comprehensive system of national accounts: National accounting agencies worldwide should develop and maintain balance sheets of both natural and manufactured capital in addition to national income statements All stocks and inter-sector flows should be provided in physical as well as financial units In the US, the Bureau for Economic Analysis (BEA) should restart detailed Capital, Labor, Energy, Material, and Services (KLEMS) reporting National accounting agencies should routinely estimate the energy intensity of economic products, and all of the above should be estimated and disseminated on an annual basis.

The Energy of Slaves

The Energy of Slaves [Pdf/ePub] eBook ISBN-10: 1553659791
Author: Andrew Nikiforuk
Publisher: Greystone Books
File Size: 373 KB
File Format: Pdf
Read Count: 9700045

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The Energy of Slaves by Andrew Nikiforuk Book Resume:

“A robustly researched and smoothly written overview of the many challenges confronting our devotion to fossil fuels” from the author of Tar Sands (Quill & Quire). Ancient civilizations relied on shackled human muscle. It took the energy of slaves to plant crops, clothe emperors, and build cities. Nineteenth-century slaveholders viewed critics as hostilely as oil companies and governments now regard environmentalists. Yet the abolition movement had an invisible ally: coal and oil. As the world’s most versatile workers, fossil fuels replenished slavery’s ranks with combustion engines and other labor-saving tools. Since then, cheap oil has transformed politics, economics, science, agriculture, and even our concept of happiness. Many North Americans today live as extravagantly as Caribbean plantation owners. We feel entitled to surplus energy and rationalize inequality, even barbarity, to get it. But endless growth is an illusion. In this provocative book, Andrew Nikiforuk, winner of the Rachel Carson Environment Book Award, argues that what we need is a radical emancipation movement that ends our master-and-slave approach to energy. We must learn to use energy on a moral, just, and truly human scale. Published in Partnership with the David Suzuki Institute “In his cautionary tale about the evils of oil . . . Nikiforuk makes his case for impending doom if we don’t mend our energy-spending ways.” —The Star “In this cogently argued book, Andrew Nikiforuk deploys a powerful metaphor. Oil dependency, he writes, is a modern form of slavery—and it’s time for a global abolition movement.” —Taras Grescoe, author of Shanghai Grand “A startling critique that should rouse us from our pipe dream of endless plenty.” —Ronald Wright, author of On Fiji Islands

The Economics of Oil

The Economics of Oil [Pdf/ePub] eBook ISBN-10: 3319478192
Author: S.W. Carmalt
Publisher: Springer
File Size: 1462 KB
File Format: Pdf
Read Count: 7264631

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The Economics of Oil by S.W. Carmalt Book Resume:

This book examines the ways that oil economics will impact the rapidly changing global economy, and the oil industry itself, over the coming decades. The predictions of peak oil were both right and wrong. Oil production has been constrained in relation to demand for the past decade, with a resulting four-fold increase in the oil price slowing the entire global economy. High oil prices have encouraged a small increase in oil production, and mostly from the short-lived “fracking revolution,” but enough to be able to claim that “peak oil” was a false prophecy. The high oil price has also engendered massive exploration investments, but remaining hydrocarbon stocks generally offer poor returns in energy (the energy return on investment or EROI) and financial terms, and no longer replace the reserves being produced. As a result, the economically powerful oil companies are under great pressure, both financially and politically, as oil remains the backbone of the global economy./div”Development scenarios and political pressure for growth as a means of solving economic woes both require more net energy, which is the amount of energy available after energy (and thus financial) inputs required for new sources to come on line are deducted. In today’s economy, more energy usually means more oil. Although a barrel of oil from any source may look the same, “tight oil” and oil from tar sands require much higher prices to be profitable for the producer; these expensive sources have very different economic implications from the conventional oil supplies that underpinned economic growth for most of the 20th century. The role of oil in the global economy is not easily changed. Since currently installed infrastructure assumes oil, a change implies more than just substitution of an energy source. The speed with which such basic structural changes can be made is also constrained, and ultimately themselves dependent on fossil fuel inputs. It remains unclear how this scenario will evolve, and that uncertainty adds additional economic pressure to the investment decisions that must be made. “Drill baby drill” and new pipeline projects may be attractive politically, but projections of economic and associated oil production growth based on past performance are clearly untenable.

Climate and Energy Protection in the EU and China

Climate and Energy Protection in the EU and China [Pdf/ePub] eBook ISBN-10: 3319998374
Author: Peter Hefele,Michael Palocz-Andresen,Maximilian Rech,Jan-Henrik Kohler
Publisher: Springer
File Size: 1046 KB
File Format: Pdf
Read Count: 1383930

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Climate and Energy Protection in the EU and China by Peter Hefele,Michael Palocz-Andresen,Maximilian Rech,Jan-Henrik Kohler Book Resume:

This edited volume gives an insight into climate and energy protection in China and the European Union (EU). By taking a closer look at the EU and China seperately, the book presents the current situation in terms of environmental policy and energy use/ consumption in EU as well as in China. The book broaches the collaboration of the EU and China regarding climate and energy protection. The target audience primarily comprises research experts in the field of climate research as well as public decision makers.