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Energy, Complexity and Wealth Maximization

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This book explores the mechanisms of wealth creation, often perceived as evolutionary "progress." The extensive flow of goods and services between producers and consumers relies on energy inputs from finite fossil fuels, a system established over the past 150 years. It outlines three key requirements for wealth creation, emphasizing that this process adheres to physical laws, typically following episodes of "creative destruction" where natural resources are exploited. Knowledge and natural capital, especially energy, will continue to drive human wealth generation as they have historically. The text raises critical questions about the future: Will the wealth engine continue to function, or will it falter? Can the emerging immaterial wealth of information and ideas within the knowledge economy compensate for the depletion of natural resources? These complex questions lack straightforward answers, but the book provides valuable insights into the challenges we face today. Praise from notable figures highlights its importance: Vaclav Smil emphasizes the need for decision-makers to grasp energy fundamentals; Prof. Dr. Ernst Ulrich von Weizäcker calls it impressive and thought-provoking; and RK Pachauri urges that it is essential reading for concerned citizens and global leaders.

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Energy, Complexity and Wealth Maximization, Robert U. Ayres

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2018
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