Prosper!

It Can’t Go On This Way

An in-depth look at the “Three E’s” – the “economy, energy and environment” – reveals that current economic models are built on continual but unsustainable expansion, shrinking energy supplies, and an overtaxed, polluted environment. Economists overlook the fact that fossil fuel is a finite resource when they push for nonstop growth. The world has burned its easily accessible oil. Extracting more oil requires costlier, more destructive methods, like fracking and deep-sea drilling. The world has no comprehensive plan for moving from oil to other energy sources.

Energy use is closely linked to economic growth. Every economy seeks continual growth and works to produce and sell more things. A growing economy requires increasing amounts of energy. For every 1% increase in gross domestic product (GDP), a nation increases its electricity use by around 0.5% and its oil use by “roughly” 0.25%. When economists talk about a percentage of growth over a set period of time, they’re referring to exponential growth. But if every economy in the world seeks exponential growth, their combined demands will exhaust Earth’s resources.

Environmental...