[fouc]

> First, Tom Murphy is confused by what economic growth is. You don't need increased energy consumption for economic growth.

> Economic growth measures the number of ways resources (material and non-material) are used hence resources are like the universe; "finite but unbounded." Tom Murphy is a typical Newtonian in his mindset and this imperial reasoning is so pre-Planck.

> Even in a so-called steady state any substitution from one material to another would seen as a kind of economic growth simply because markets the place more value on the newer item.

> Second. He assume that exponential economic growth is tied to some physical exponential. It is not. What is the basis for the recent exponential growth of physical consumption. It is growing population. It has been shown that energy growth of consumption doesn't increase much beyond 150k dollars. So once population stabilizes the physical growth model switches from exponential to linear. Tom Murphy never makes a linear growth model and thus his short-term peakerism.

http://mikenormaneconomics.blogspot.com/2012/04/tom-murphy-e...