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Economic Growth with Energy

Author

Listed:
  • Alam, M. Shahid

Abstract

This paper works out some of the basic properties of an economy with energy as a factor of production. The economy now consists of streams of energy conversions that direct energy to the production of goods and services. The focus on energy generates a variety of insights. It yields a new taxonomy of economies and economic activities; allows a better grasp of the tasks performed by labor and capital; raises the prospect of examining growth as the speeding up of machines; and identifies greater use of energy as an important source of growth. In addition, we use these results to explain the near stagnation in living standards in agrarian economies in the millennia before 1800, and the dramatic acceleration in growth since that date.

Suggested Citation

  • Alam, M. Shahid, 2006. "Economic Growth with Energy," MPRA Paper 1260, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:1260
    as

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    File URL: https://mpra.ub.uni-muenchen.de/1260/1/MPRA_paper_1260.pdf
    File Function: original version
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    References listed on IDEAS

    as
    1. Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 70(1), pages 65-94.
    2. Romer, Paul M, 1990. "Endogenous Technological Change," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 71-102, October.
    3. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Brada, Josef C., 2013. "The distribution of income between labor and capital is not stable: But why is that so and why does it matter?," Economic Systems, Elsevier, vol. 37(3), pages 333-344.
    2. repec:eee:eneeco:v:67:y:2017:i:c:p:375-386 is not listed on IDEAS
    3. Yeboah Asuamah, Samuel, 2017. "An econometric modelling of financial development-aggregate energy consumption nexus for Ghana," MPRA Paper 76199, University Library of Munich, Germany.
    4. Haijun Zhao & Weichun Ma & Hongjia Dong & Ping Jiang, 2017. "Analysis of Co-Effects on Air Pollutants and CO 2 Emissions Generated by End-of-Pipe Measures of Pollution Control in China’s Coal-Fired Power Plants," Sustainability, MDPI, Open Access Journal, vol. 9(4), pages 1-19, March.
    5. Nwosu Chinedu Anthony & Marcus Samuel Nnamdi, 2013. "Relating Electricity Differentials to Nigeria per Capita Income: A Distributed Lag Approach," International Journal of Business Administration, International Journal of Business Administration, Sciedu Press, vol. 4(3), pages 86-94, May.
    6. Di Bella, Gabriel & Grigoli, Francesco, 2017. "Power it up: Strengthening the electricity sector to improve efficiency and support economic activity," Energy Economics, Elsevier, vol. 67(C), pages 375-386.
    7. repec:fan:efeefe:v:html10.3280/efe2016-002002 is not listed on IDEAS
    8. repec:rss:jnljee:v4i5p1 is not listed on IDEAS
    9. Jamil, Faisal & Ahmad, Eatzaz, 2010. "The relationship between electricity consumption, electricity prices and GDP in Pakistan," Energy Policy, Elsevier, vol. 38(10), pages 6016-6025, October.
    10. Yeboah Asuamah, Samuel, 2015. "An econometric investigation of the effect of financial development on aggregate, and disaggregate energy consumption: time series assessment for Ghana," MPRA Paper 67684, University Library of Munich, Germany.
    11. repec:ebl:ecbull:eb-17-00582 is not listed on IDEAS
    12. repec:rfh:bbejor:v:6:y:2017:i:3:p:117-129 is not listed on IDEAS
    13. Sule Muhammad Zubairu & Muhammad Isma'il & Abdullahi Jibrin & Odey Emmanuel & Abduljalal Abdulsalam & Amina Maiwada, 2014. "Analysis of Fuelwood Consumption in Pampaida (Millenium Village) of Kaduna State, Nigeria," Asian Bulletin of Energy Economics and Technology, Asian Online Journal Publishing Group, vol. 1(1), pages 17-23.

    More about this item

    Keywords

    Economy; energy; capital; labor; growth; sources of growth; Adam Smith; John Stuart Mill; industrial revolution;

    JEL classification:

    • Q40 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - General
    • B0 - Schools of Economic Thought and Methodology - - General
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • D2 - Microeconomics - - Production and Organizations

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