Economic Growth as a Threat to Survival?
Keywords:
Climate change, energy in production processes, fossil fuels, sources of renewable energy, economic growthAbstract
Economic modeling of production does not include the role of energy. This represents a significant limitation as energy plays a fundamental role in the production processes of goods and services. Available data on world production and energy consumption show a very close correlation between these variables and most of the energy used in these production processes is generated through the burning of fossil fuels. This article presents two main arguments: i) climate change experts insist that the burning of fossil fuels must decrease considerably to avoid a climate catastrophe; ii) because sources of renewable energy do not represent a viable substitute for the burning of fossil fuels, a decrease in economic growth is inevitable if the earth is to remain a habitable place. The article concludes that a radical change in humanity’s consumption patterns and the coordination of the design and execution of public policies at the international level represent the only viable solution to the challenge posed by climate change
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