Money creation in the modern economy (2014) [pdf]
One thing that is astonishingly glossed over again and again is energy. There is no activity, no economy of any sort without energy. Energy availability therefore is absolutely central to any economic activity. Energy availability is not infinite, or infinitely elastic to demand. You cannot either infinitely yield more output from a given amount of energy. In last resort, we could say that all money is an energy debt (every dollar amounts to some energy quantity that varies). Making untenable promises by printing large amounts of money doesn't change this (promising that in 20 years, we'll have x% more energy than today doesn't help making this actually happen).<p>In a finite world, you can't grow economy infinitely, period. Frigging laws of physics.<p>See for instance<p><a href="https://dothemath.ucsd.edu/2011/07/can-economic-growth-last/" rel="nofollow">https://dothemath.ucsd.edu/2011/07/can-economic-growth-last/</a><p>Or start here for more<p><a href="https://dothemath.ucsd.edu/post-index/" rel="nofollow">https://dothemath.ucsd.edu/post-index/</a>