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Erschienen in:
How We Do Economics Today Kapitel lesen Erstes Kapitel lesen

2018 | OriginalPaper | Buchkapitel

10. Twentieth Century: Growth and the Hydrocarbon Economy

verfasst von : Charles A. S. Hall, Kent Klitgaard

Erschienen in: Energy and the Wealth of Nations

Verlag: Springer International Publishing

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Abstract

The economy of the early twenty-first century is not just a larger version of the economy of the nineteenth century. It is fundamentally different. This chapter views the development of the American economy from the middle of the twentieth century through the financial crisis and recession of 2008. In 2008, Barack Obama was elected president of the United States with a great deal of optimism. But 2010 saw a conservative resurgence based on poor economic growth and by 2016 the election of a right-wing «populist» Donald Trump. We pose a question: can the pro-growth agenda that dominated the twentieth century withstand the biophysical limits that will be imposed by peak oil and climate change? To answer this crucial question, we need to look carefully at the patterns of history as well as carefully examine the scientific data, which we do with the remainder of this chapter.

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Vorheriges Kapitel The Petroleum Revolution II: Concentrated Power and Concentrated Industries
Nächstes Kapitel Globalization, Development, and Energy
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Metadaten
Titel
Twentieth Century: Growth and the Hydrocarbon Economy
verfasst von
Charles A. S. Hall
Kent Klitgaard
Copyright-Jahr
2018
Buch
Energy and the Wealth of Nations

Print ISBN: 978-3-319-66217-6

Electronic ISBN: 978-3-319-66219-0

Copyright-Jahr: 2018

DOI
https://doi.org/10.1007/978-3-319-66219-0_10