Tag Archives: dissipative structure

Why Energy-Economy Models Produce Overly Optimistic Indications

Posted on March 29, 2017 by Gail Tverberg

I was asked to give a talk to a committee of actuaries who are concerned about modeling the financial future of programs, such as pension plans, given the energy problems that are often discussed. They (and the consultants that they … Continue reading →

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Oops! The economy is like a self-driving car

Posted on February 20, 2017 by Gail Tverberg

Back in 1776, Adam Smith talked about the “invisible hand” of the economy. Investopedia explains how the invisible hand works as, “In a free market economy, self-interested individuals operate through a system of mutual interdependence to promote the general benefit … Continue reading →

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The Physics of Energy and the Economy

Posted on February 8, 2016 by Gail Tverberg

I approach the subject of the physics of energy and the economy with some trepidation. An economy seems to be a dissipative system, but what does this really mean? There are not many people who understand dissipative systems, and very … Continue reading →

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A new theory of energy and the economy – Part 1 – Generating economic growth

Posted on January 21, 2015 by Gail Tverberg

How does the economy really work? In my view, there are many erroneous theories in published literature. I have been investigating this topic and have come to the conclusion that both energy and debt play an extremely important role in … Continue reading →

Posted in Financial Implications | Tagged , , , , | 727 Comments