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#304159 - 11/30/17 02:09 PM Economics or environment?
logtroll Offline
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Registered: 04/26/10
Posts: 8773
Loc: New Mexico (not old Mexico)
GDP and fossil fuels are intimately related.

Quote:
The common political mantra that higher GDP creates social benefits by lifting all boats has become suspect since the 2008 recession and ‘recovery.’ For the first time in the history of the USA, we now have more bartenders and waitresses than manufacturing jobs.50 In order to maximize dollar profits, it often makes more sense for corporations to mechanize and hire ‘fossil slaves’ than to hire ‘real workers.’ Real income peaked in the USA around 1970 for the bottom 50% of wage earners.
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#304162 - 11/30/17 03:46 PM Re: Economics or environment? [Re: logtroll]
rporter314 Offline
old hand

Registered: 03/18/03
Posts: 6372
Loc: Highlands, Tx
it is the problem of idiot-ology versus reality.

No matter how one wants to argue humans who are alive will continue to thrive in the work place, I continue to see replacement with automatons.

While some may see a bleak future, I see great opportunity for individual freedom.
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#304166 - 11/30/17 07:13 PM Re: Economics or environment? [Re: rporter314]
logtroll Offline
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Registered: 04/26/10
Posts: 8773
Loc: New Mexico (not old Mexico)
I didn't see that as the primary theme of the article. It was the math concerning how much of our 'wealth' can be attributed to fossil fuel energy, and how squanderous (squanderful?) our culture is that got my attention.
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#304169 - 12/01/17 01:04 AM Re: Economics or environment? [Re: logtroll]
rporter314 Offline
old hand

Registered: 03/18/03
Posts: 6372
Loc: Highlands, Tx
sorry just extrapolated a little

but basically I think capitalism is caught on a false premise .... infinite resources. Every time anyone asks about oil reserves the response is oil reserves have expanded (and some even say there is a sea of reserves waiting to be created or already existing i.e an infinite reserve. I think this is an equivalent restatement of the St Petersburg Paradox.

The reason I see the article as heartening is at some point people will realize there is no infinite payoff in GDP. As a result they will be compelled to rethink the notions of jobs and work and finally accommodate other constraints. When automatons work energy approaches human work energy (becomes almost or becomes 1 <--> 1) there will be a shift in the dynamic in the correlation with oil energy. And why would it have to remain at 1 <--> 1? It doesn't. Automation will make work energy expended cheaper and thus make it >1.

The result of this will be not only elimination of human work energy from the relationship but elimination of humans from the process. What is the point of making ever increasing amounts wealth if there is no change in life?

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