Is Policy Perversity Consistent with Keynesian Business Cycles?
Author(s)
Myatt, Anthony; Scarth, William M.
Abstract
It has long been recognized that available energy governs and limits the structure of human economies. While mainstream economists have not paid much attention to energy analysis, which is primarily concerned with the flow of energy, almost everyone has recognized the importance of energy to the functioning of economic systems. The nature, details and conclusions of the energy connection are important to several aspects of national policy. This article extends earlier input-output analyses of energy-economy linkages by incorporating the energy costs of labor and government services and solar energy inputs.
