The difficulty in this presention is that electricity consumption is a component of GDP.
Standard of Living does seem to be driven at least in part by
Energy Consumption * Efficiency of Usage
where efficiency is a measure of energy applications' ability to increase individuals' (subjective) welfare.
If individual decisions or markets direct energy consumption toward efficient applications, energy consumption will naturally be positively correlated with standard of living. Worthy of note:
1. In an environment of finite, diminishing energy supply, the above positive correlation will exist at each point in time -- even if everyone's standard of living is declining over time (which would be bad).
2. Diminishing energy supply might be induced by a physical constraint on the availability of energy over time. It also might result from government regulations restricting energy availability -- or even from massive destruction of infrastructure due to war or a catastrophic natural event.
My head hurts. Too old for this.
SHSS.
Rebel with a Cause
npub1he…99kel
2024-07-09 16:29:55
in reply to nevent1q…287l
Author Public Key
npub1heqf8jcmf9erymnxn232n4cc8wrwvsv7p3f8flfsrpg88rkjtuhsz99kelPublished at
2024-07-09 16:29:55Event JSON
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"content": "The difficulty in this presention is that electricity consumption is a component of GDP.\n\nStandard of Living does seem to be driven at least in part by \n\nEnergy Consumption * Efficiency of Usage\n\nwhere efficiency is a measure of energy applications' ability to increase individuals' (subjective) welfare.\n\nIf individual decisions or markets direct energy consumption toward efficient applications, energy consumption will naturally be positively correlated with standard of living. Worthy of note:\n\n1. In an environment of finite, diminishing energy supply, the above positive correlation will exist at each point in time -- even if everyone's standard of living is declining over time (which would be bad).\n\n2. Diminishing energy supply might be induced by a physical constraint on the availability of energy over time. It also might result from government regulations restricting energy availability -- or even from massive destruction of infrastructure due to war or a catastrophic natural event.\n\nMy head hurts. Too old for this. \n\nSHSS.\n",
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