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The Economic growth engine: how energy and work drive material prosperity

Author: Ayres, Robert U. ; Warr, BenjaminINSEAD Area: Economics and Political Science Corporate author: International Institute for Applied Systems Analysis Publisher: Edward Elgar , 2009.Language: EnglishDescription: 411 p. : Graphs ; 24 cm.ISBN: 9781848441828Type of document: INSEAD BookBibliography/Index: Includes bibliographical references and indexAbstract: 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.
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INSEAD Book Asia Campus
INSEAD Publications Display
Print HB240 .A97 2009
(Browse shelf)
900193528
Consultation only 900193528
INSEAD Book Europe Campus
Main Collection
Print HB240 .A97 2009
(Browse shelf)
001246810
Available 001246810
INSEAD Book Europe Campus
Main Collection
Print HB240 .A97 2009
(Browse shelf)
001246827
Available 001246827
INSEAD Book Middle East Campus
INSEAD Publications Display
Print HB240 .A97 2009
(Browse shelf)
500000241
Available 500000241
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Includes bibliographical references and index

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.

Digitized

The Economic Growth Engine How Energy and Work Drive Material Prosperity Contents List of figures List of tables Preface and acknowledgments Introduction 1. Background 2. Technical progress 3. Industrial metabolism: mass/energy flows 4. Exergy conversion to useful work 5. Economic growth theories 6. The production function approach 7. Numerical results for the US and Japan 8. Growth forecasting 9. Economic growth and development: towards a catch-up model (simplified REXSF model) 10. Conclusions, implications and caveats Appendices References Index vi xi xiii xv 1 30 62 89 134 175 197 222 252 295 311 353 393

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