Technology is a vector for more energy use, he says. If we have processes like aluminum smelting or air travel that require lots of units of adding foscil energy to replace things humans used to do, those processes break down and become unprofitable if energy prices double or triple. There are limits to how much energy we can consume, because when you consume energy, you generate waste. More than that amount of energy consumption means that amount of waste in the biosphere.
On this episode, we meet with Economist, Author, and Research Fellow at the Institute for Strategy, Resilience, and Security at University College in London, Steve Keen.
Keen discusses how mainstream economics misses the centrality of energy to our economy and to our futures, the naive treatment to the risks of money and debt creation, and the disconnect economic theory has to climate change risks.
About Steve Keen:
Steve Keen is an economist, author of Debunking Economics and The New Economics: A Manifesto, a Research Fellow at the Institute for Strategy, Resilience, and Security at University College in London.
For Show Notes and Transcript visit: https://www.thegreatsimplification.com/episode/30-steve-keen