Towards an energy Based Monetary Unit, free of Usury.
merely discussions looking toward a readjustment of the factors which prevent them
The problem of analysing political choices against the metric of a Monetary measure is the Money as a Thing is most certainly a Variable and as any good technologist, scientist or metrologist will tell you a unit of measurement has to be clearly defined and fixed.
The dollar. He notes that it is a variable. Why anyone should attempt, on this earth, to use a
variable as a measuring rod is so utterly absurd that he dismisses any serious
consideration of its use in his study of what should be done.
He also considers ‘price’ and ‘value’ and the fine- spun theories of philosophers and
economists who have attempted to surround these terms with the semblance of meaning.
These terms, like the monetary unit, may have had meaning to men in the past but they
mean nothing whatsoever to the modern technologist. The standard of measurement is
not relevant to the things measured; and the measuring rod and the things, measured as if
they were stable, are all variables.
Incorporating energy into production functions
The Land is the Source or Matter from whence all Wealth is produced. The Labour of man is the Form which produces it: and Wealth in itself is nothing but the Maintenance, Conveniencies, and Superfluities of Life. (Cantillon, Essai sur la Nature du Commerce in Général (Essay on the Nature of Trade in General)
The annual labour of every nation is the fund which originally supplies it with all the necessaries and conveniencies of life which it annually consumes, and which consist always either in the immediate produce of that labour, or in what is purchased with that produce from other nations…
The greatest improvement in the productive powers of labour, and the greater part of the skill, dexterity, and judgment with which it is anywhere directed, or applied, seem to have been the effects of the division of labour. (Smith 1776, An Inquiry into the Nature and Causes of the Wealth of Nations)
Pricing in Energy and not Cost of money ( Internal Rates of return vis cost of capital is not a new Thing.
Soddy was alive to it and it figures in the 1932 book Technocracy.
A related recent concern is energy cannibalism where energy technologies can have a limited growth rate if climate neutrality is demanded. Many energy technologies are capable of replacing significant volumes of fossil fuels and concomitant green house gas emissions. Unfortunately, neither the enormous scale of the current fossil fuel energy system nor the necessary growth rate of these technologies is well understood within the limits imposed by the net energy produced for a growing industry. This technical limitation is known as energy cannibalism and refers to an effect where rapid growth of an entire energy producing or energy efficiency industry creates a need for energy that uses (or cannibalizes) the energy of existing power plants or production plants.
Skype telephone number +46406931188
Portfolio of on line Profiles( Go on be Nosy ) CLICK HERE PLEASE
7 thoughts on “#ConquestofDough Squaring the Energy, Food, Production, Usury circle.”
Roger Lewis1 second ago
Prof Keen is a fine Monetary Theorist and not so strong on the ol´ Atmospheric Physics. Readers and watchers might find the Rocket Science Journal of assistance in Explaining what is singularly garbled in this presentation at 46 mins.
On the Limits for Growth please also take account of the criticisms of the assumed boundary conditions, again a source of confusion in Prof Keens explanations in this video.
Robert Solow from MIT argued that prediction in The Limits to Growth was based on a weak foundation of data (Newsweek, March 13, 1972, p. 103). Allen Kneese and Ronald Riker of Resources for the Future (RFF) stated:
The authors load their case by letting some things grow exponentially and others not. Population, capital and pollution grow exponentially in all models, but technologies for expanding resources and controlling pollution are permitted to grow, if at all, only in discrete increments.