| Growth is fueled by energy. If we're not exponentially growing it's because energy is a limiting factor for some reason. I find the table in the middle of this page illuminating: https://en.wikipedia.org/wiki/Energy_return_on_investment If you were to map human population growth against the energy technologies in the table, you would basically see that human population growth bursts with jumps in EROI. There are a couple of elephants in the room on that table that warrant some discussion. One is nuclear: the massive jump in EROI it provides and our comparative hesitant/tepid adoption of it. The other is a lot of the renewables: the massive leap backwards they offer. |
No, growth is a an economic concept that expresses our consumption in monetary terms. We could consume anything: 1 million $ worth of electricity is perfectly equivalent, as far as GDP growth is concerned, with a 1 million $ painting that requires 100Wh to make.
Coming from an energy, food and housing starved world, of course our growth seems to be energy driven, because that's what people will consume first when they acquire wealth. But there are strong diminishing returns, you only can eat so much and keep tidy so much floor space.
In fact, the substantial housing cost bubble in the Western world, far above the greenfield costs of new construction with similar comfort, suggests we already are not pricing the house itself, rather the abstract values it comes with, such as the surrounding community, available schools and jobs etc. There is no practical limit to the subjective value of these, and they don't need energy to inflate in relative value.