Book review: “Energy and the Wealth of Nations”

Book review: ‘Energy and the Wealth of Nations’

(from resilience.org)

“academic economics merely pretends to be a science … economics is based on a number of assumptions that are clearly false … handy assumptions for creating mathematical models, but not for creating something that reflects reality … Two of the assumptions are even more fundamentally in error. Inputs do not equal outputs, because all activity generates waste or decay, according to the Second Law of Thermodynamics … endless growth eventually becomes unsupportable … Kenneth Boulding, “anyone who believes that exponential growth can continue forever in a finite system is either a madman or an economist.” … perceived happiness in the 1950s was about the same as today – proof that we can be happy with less “stuff.” … “Most of the time economists do not ‘do science.’ Rather they tell stories dressed up in mathematics.” … “whoever dies with the most toys, wins,” … is the basis of most economics … Just as planners have embraced behavioral economics for the insights it provides, learning about biophysical economics will add considerably to our skills and our wisdom”

Doubt any economics may bring any wisdom or skills, until the ‘monetary efficiency’ quackery, and the convenient usury predatory skim, are abandoned in favor of ‘energy theory of value’ in global scale.

Doubt humanity is mature enough to understand reality against the self-persuasion of it’s own idolatry and psychotic ‘competitive reproduction’ gig convenience, in so I would expect humans to be extinct within the current century.

But is good to know that all in wall street agree that being ‘the richest ones at the cemetery’ is the goal of economics, religions, and associated academic and political quackery. Surely their wall street cemetery under 200ft of water, may look impressive to extraterrestrial visitors, in the millenia to come.

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