Energy and the State of Nations
The mathematical conditions for the existence of macroeconomic production functions that are state functions of the economic system are pointed out. The output elasticities and the elasticities of substitution of energy-dependent Cobb-Douglas, CES and LinEx production functions are calculated. The output elasticities, which measure the productive powers of production factors and whose numerical values have been obtained for Germany, Japan, and the USA, are for energy much larger and for labor much smaller than the cost shares of these factors. Energy and its conversion into physical work accounts for most of the growth that mainstream economics attributes to “technological progress” and related concepts. It decisively determines the economic state of nations. Consequences for automation and globalization and perspectives on growth are discussed.
|Date of creation:||28 Dec 2011|
|Contact details of provider:|| Postal: Vogelsanger Str. 321, Alte Wagenfabrik, 50827 Köln|
Phone: ++ 49 (0) 221 277 29 100
Fax: ++ 49 (0) 221 277 29 400
Web page: http://www.ewi.uni-koeln.de/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Robert M. Solow, 1994. "Perspectives on Growth Theory," Journal of Economic Perspectives, American Economic Association, vol. 8(1), pages 45-54, Winter.
- Beaudreau, Bernard C. & Pokrovskii, Vladimir N., 2010. "On the energy content of a money unit," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 389(13), pages 2597-2606.
- Ayres, Robert U. & Warr, Benjamin, 2005. "Accounting for growth: the role of physical work," Structural Change and Economic Dynamics, Elsevier, vol. 16(2), pages 181-209, June.
- Jorgenson, Dale W, 1984. "The Role of Energy in Productivity Growth," American Economic Review, American Economic Association, vol. 74(2), pages 26-30, May.
- Kurz,Heinz D. & Salvadori,Neri, 1997.
"Theory of Production,"
Cambridge University Press, number 9780521588676, August.
- Kurz,Heinz D. & Salvadori,Neri, 1995. "Theory of Production," Cambridge Books, Cambridge University Press, number 9780521443258, October.
- R. Stresing & D. Lindenberger & R. Kümmel, 2008. "Cointegration of output, capital, labor, and energy," The European Physical Journal B: Condensed Matter and Complex Systems, Springer;EDP Sciences, vol. 66(2), pages 279-287, November.
- Pokrovski, Vladimir N., 2003. "Energy in the theory of production," Energy, Elsevier, vol. 28(8), pages 769-788.
- Bruckner, Th. & Groscurth, H.-M. & Kümmel, R., 1997. "Competition and synergy between energy technologies in municipal energy systems," Energy, Elsevier, vol. 22(10), pages 1005-1014.
- Groscurth, H.-M. & Kümmel, R. & Van Gool, W., 1989. "Thermodynamic limits to energy optimization," Energy, Elsevier, vol. 14(5), pages 241-258.
- Dale W. Jorgenson, 1984. "The Role of Energy in Productivity Growth," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3), pages 11-26. Full references (including those not matched with items on IDEAS)