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Politics : Stockman Scott's Political Debate Porch
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To: tejek who wrote (83823)10/6/2010 11:34:25 AM
From: T L Comiskey  Read Replies (1) of 89467
 
Work, Exergy, The Economy,
Money, and Wealth
October 5, 2010 -
George Mobus

( George is an Associate Professor of Computing and Software Systems at the University of Washington, Tacoma. His blog is Question Everything.)

This is something of a tutorial on the relationship between energy and the economy. I have been dismayed by how often people express their lack of knowledge about that relationship. Such expressions come in the form of beliefs that money is what drives the economy. Or the belief that the human desire to accumulate monetary wealth is the motive force for economic growth. Indeed I doubt that most people ever think of physics when they think of the economy.

But the reality is that the economy is very much a physical process that requires energy to continue operating. All of the money in the world will not suffice to maintain the motivation of the wheels of industry unless it can be used to exchange for energy flow. Here is a guide regarding how the real wealth of nations is created and a more concise look at the nature of energy flow needed to do so.

There's more… (3292 words)
theoildrum.com
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