The Energetic Problem with the Energy Transition with Adam Rozencwajg
The HC Commodities Podcast
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The Importance of Overhang Capital
In the 17th and 18th century, England saw an astonishing rate of development. The difference was liberating those five units of energy that allowed surplus capital. If you're running everything kind of at net break even and you're unable to invest, you can't have that compounding effect. That's exactly what we saw begin to happen beginning in England in the 16th century.
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