The Economic Growth Engine: How Energy and Work Drive Material Prosperity
Abstract
The authors of this unique book explore the fundamental relationship between thermodynamics (physical work) and economics. They take a realistic approach to explaining the relationship between technological progress, thermodynamic efficiency and economic growth, the findings of which conclude with a fundamental explanation of endogenous growth that is both quantifiable and consistent with the laws of thermodynamics. A major implication of this is that future economic growth is not guaranteed inasmuch as efficiency gains that have driven past growth may not continue in the future.