The Role of Energy in Economics - by Steve Keen
#economics #energy #environment #resources
GDP is completely depending upon energy consumption.
... the Leontief Production Function is the only one that is consistent with the data on energy and GDP. The Cobb-Douglas Production Function, like so much else of Neoclassical economics, should be consigned to the dustbin of the history of economic thought.
profstevekeen.substack.com/p/t…
The Role of Energy in Economics
Chapter 9 of Money and Macroeconomics from First Principles, for Elon Musk and Other EngineersSteve Keen (Building a New Economics)
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