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"The End of Growth"
Introduction
The current economical situation and troubles are analysed by the latest book of Richard Heinberg "The End of Growth". It illustrates a fairly detailed and comprehensible reasoning to the question why economic growth cannot be sustainable and explains several solutions for a stable economy without economic growth.
Depleting Energy Resources
The main argument for the end of continuous economic growth is simply the fact that the human race lives on a finite planet with limited resources. One of the most important resources for the present economy is crude oil because the whole economic system is vulnerably dependent on it. A huge proportion of the current global population would probably starve to death within short time if crude oil production would be completely ceased by tomorrow. Food production rate and transportation would decrease dramatically due to lack of petrol.
The extreme increase of crude oil price recent years is a sign that we reached already a plateau of oil production, where oil supply cannot meet current demand. And it is getting even worse for the coming years as every oil field's production rate follow a bell-shaped curve, which was proven in the fifties by Marion King Hubbert. The oil peak of the United States in 1971 was predicted accurately in the year 1956 by M. Hubbert. In respect of M. Hubbert's prediction for global oil production rate, global peak oil would have happened in year 2000 as he could not know in the fifties that two major oil crises will happen in the seventies.
Transition to renewable Energy Resources
On the other hand, optimists tend to claim that above worries can be prevented through better efficiency, innovation or substitution, although important resources are getting scarcer. The technologies that the current global economy mostly relies on are in the food system, the transport system and the energy sector, which are again still heavily dependent on oil supply.
The transition in the transport system from internal combustion engines to electric motors in automobiles has already started. According to Stuart Staniford's research, it is possible in respect of limited resources to manufacture roughly 4 billion electric cars with lithium-batteries until 2050.
In order to recharge all the batteries for the electric cars or to solve upcoming shortages in the energy sector, the global economy has to shift to renewable energies like wind, sunlight, geothermal heat and tides as resources like uranium, coal, oil and gas for generating electricity deplete.
Conclusion
The transition to a sustainable and stable economy without economic growth is only feasible if our future global economy relies mainly on renewable energies and transforms into a recycling-based economy.
Acceleration during the transition time is very important and essential because non-renewable energies production rates decrease with exponential pace after peak production.
Written by Edwin Keller
. A huge proportion of the current global population would probably starve to death within a short time if crude
if crude oil production would be completely ceased by tomorrow
Food production rate ( food trabnsportation is different from food production rate)... how is this impacted ?? Explain
price recent years is a sign that we reached alreadyhave already reached a plateau of oil production
And it is getting ... Avoid starting sentence with "and". Try to rephrase the whole sentence as something seems out of place, but cant really put my finger on it.
