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18min chapter
Including energy in economic models. It doesn’t have to be that difficult.
Debunking Economics - the podcast
Energy's Crucial Role in Economic Models
This chapter examines the significant yet often neglected impact of energy within traditional economic frameworks, which typically prioritize capital and labor. It challenges listeners to rethink the integration of energy into economic models and highlights its essential role in productivity and GDP calculations. Additionally, the discussion underscores the relationship between energy consumption and economic growth while advocating for a reevaluation of how energy is represented in economic theories.
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