What will all this inflation do to us?
Debunking Economics - the podcast
00:00
The Importance of Energy in the Economy
We spend a great proportion of our money on food, but we've got this other economy which is growing beyond that. We're starting to become a more service-oriented economy. When you look at the global level, there is no decoupling. There's two... My approach basically says GDP is energy transformed into useful work. So if you're going to have less energy, you'll have less GDP, not more. I'm trying to give our lives up some optimism.
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