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Life After Growth: How the global economy really works - and why 200 years of growth are over by Tim Morgan

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Chapter 11: Welcome to Life After Growth

THE SHARP DETERIORATION IN ENERGY returns on energy invested (EROEIs) means that the surplus energy which determines the prosperity of the economy is being squeezed downwards. This is going to result in changes of an unparalleled magnitude, both in the financial economy of money and debt and in the real economy of goods and services.

The flip-side of a declining EROEI is an escalation in the cost of energy. The best way to think of this is in terms of energy sprawl. As the cost-efficiency of energy supply deteriorates, the scale of the infrastructure required to deliver energy will increase exponentially. The investment of an ever-increasing proportion of economic output into the supply of energy will ...

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