Energy, Economic Growth and Environmental Sustainability: Five Propositions
This paper advances five linked and controversial propositions that have both deep historical roots and urgent contemporary relevance. These are: (a) the rebound effects from energy efficiency improvements are significant and limit the potential for decoupling energy consumption from economic growth; (b) the contribution of energy to productivity improvements and economic growth has been greatly underestimated; (c) the pursuit of improved efficiency needs to be complemented by an ethic of sufficiency; (d) sustainability is incompatible with continued economic growth in rich countries; and (e) a zero-growth economy is incompatible with a fractional reserve banking system. These propositions run counter to conventional wisdom and each highlights either a "blind spot" or "taboo subject" that deserves closer scrutiny. While accepting one proposition reinforces the case for accepting the next, the former is neither necessary nor sufficient for the latter.
References listed on IDEAS
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- Sue Wing, Ian, 2008. "Explaining the declining energy intensity of the U.S. economy," Resource and Energy Economics, Elsevier, vol. 30(1), pages 21-49, January.