{"id":40245,"date":"2018-11-07T19:24:28","date_gmt":"2018-11-08T00:24:28","guid":{"rendered":"http:\/\/olduvai.ca\/?p=40245"},"modified":"2018-11-07T19:24:28","modified_gmt":"2018-11-08T00:24:28","slug":"why-we-get-bad-diagnoses-for-the-worlds-energy-economy-problems","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=40245","title":{"rendered":"Why we get bad diagnoses for the world\u2019s energy-economy\u00a0problems"},"content":{"rendered":"

Why we get bad diagnoses for the world\u2019s energy-economy\u00a0problems<\/a><\/h3>\n
\n

The world economy seems to be seriously ill. The problem is not overly high oil prices, but that does not rule out energy as being a major underlying problem.<\/p>\n

Two of the symptoms of the economy\u2019s malaise are slow wage growth and increasing wage disparity. Tariffs are being added as solutions to these issues. Radical leaders are increasingly being elected. The Bank for International Settlements<\/a> and the International Monetary Fund<\/a>\u00a0have raised concerns about the world\u2019s aggregate debt levels. The IMF has even suggested that a second Great Depression<\/a>\u00a0might be ahead if major banks should fail in the manner that Lehman Brothers did in 2008.<\/p>\n

\"\"<\/a><\/p>\n

Figure 1. Ratio of Core Debt Growth (non-financial debt including governmental debt) to GDP, based on data of the Bank of International Settlements.<\/p>\n<\/div>\n

If the economy were a human being, we would send it to a physician for a diagnosis regarding what is wrong. What really is needed is a physician who has a wide overview, and thus can understand the many symptoms. Hopefully, the physician can also provide a reasonable prognosis of what lies ahead.<\/p>\n

Individual specialists studying the world\u2019s economic and energy problems tend to look at these problems from narrow points of view. Some examples include:<\/p>\n

    \n
  • \u00a0Curve fitting and cycle analysis using economic data by country since World War II, as is often performed by economists<\/li>\n
  • Analysis of oil supply based on technically recoverable reserves or resources<\/li>\n
  • Analysis of fresh water supply problems<\/li>\n
  • Analysis of population problems, including rising population relative to arable land, and rising retiree population relative to working population<\/li>\n
  • Analysis of ocean problems, including rising acidity and depleting fish stocks<\/li>\n
  • Analysis of the expected impact of CO2 production from fossil fuels on climate<\/li>\n
  • Analysis of rising debt levels<\/li>\n<\/ul>\n

    \u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

    Why we get bad diagnoses for the world\u2019s energy-economy\u00a0problems The world economy seems to be seriously ill. The problem is not overly high oil prices, but that does not rule out energy as being a major underlying problem. Two of the symptoms of the economy\u2019s malaise are slow wage growth and increasing wage disparity. Tariffs […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3],"tags":[195,22841,1233,353,391,1232],"class_list":["post-40245","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-debt","tag-debt-growth","tag-gail-tverberg","tag-gdp","tag-growth","tag-our-finite-world"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/40245","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=40245"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/40245\/revisions"}],"predecessor-version":[{"id":40246,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/40245\/revisions\/40246"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=40245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=40245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=40245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}