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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (68147)	8/27/2005 10:10:13 AM
From: Moominoid	Read Replies (1) \| Respond to of 74559

I use "industrial revolution" in a very broad sense for the high technological change, high growth era we have been in since the 18th century in some and increasingly more countries. Some of my colleagues talk about 3 different industrial revolutions. In ordinary usage people are probably thinking about 19th century technology. One of the key results from this economic historical investigation of energy and growth so far, is that the Energy/GDP ratio goes down continuously over the centuries when traditional forms of energy are included in most countries looked at. Any increases in the ratio have been modest. The UK and Germany seemed to have had an increase in the ratio when they shifted to coal. China today is going through the same development process. Of course as all the more sophisticated technologies already exist the catch-up process is fast and the peak levels of energy/GDP are lower than in the past. The same thing though happened with the first countries to follow the initial lead of Britain.