Item of General Interest
March 10. I will be in China for four weeks, teaching at the China University of Petroleum in Beijing. I am leaving on March 13, and plan to return April 11.
With the assistance of others, I may be able to put up posts while I am away. I will probably not be available to comment as much, though.
Tag Archives: GDP growth
In Part 1 of this series, I talked about why cheap fuels act to create economic growth. In this post, we will look at some supporting data showing how this connection works. The data is over a very long time … Continue reading
We know the world economic pattern we have been used to in years past–world population grows, resource usage grows (including energy resources), and debt increases. The economy grows fast enough that paying an interest rate a little higher than the … Continue reading
We are used to expecting that more investment will yield more output, but in the real world, things don’t always work out that way. In Figure 1, we see that for several groupings, the increase (or decrease) in oil consumption … Continue reading
Strange as it may seem, humans seem to have evolved in a way that we have a need for external energy, such as energy from burning wood or fossil fuels. While the evidence is not 100% certain, it appears that … Continue reading
The usual assumption that economists, financial planners, and actuaries make is that future real GDP growth can be expected to be fairly similar to the average past growth rate for some historical time period. This assumption can take a number … Continue reading