The purpose of this book is three-fold. The first purpose is to posit that the fundamental substance of the universe is energy, and that energy is required (consumed) for any material transformation, or information transmission. The labor theory of value, articulated by the physiocrats and elaborated by Adam Smith, David Ricardo, J.B. Say and Karl Marx was a rough first approximation of the value creation process, in the 17th and 18th centuries, but is now obsolete. Labor is now (mostly) p...

Eminent physicist and economist, Robert Ayres, examines the history of technology as a change agent in society, focusing on societal roots rather than technology as an autonomous, self-perpetuating phenomenon. With rare exceptions, technology is developed in response to societal needs that have evolutionary roots and causes. In our genus Homo, language evolved in response to a need for our ancestors to communicate, both in the moment, and to posterity. A band of hunters had no cha...

Capitalism is under attack. Defenders say that capitalism has raised billions of people from poverty. But a central activity of capitalism today, Wall Street style, is speculation (gambling), using other people’s money, and privatizing the profits while socializing the debts. Skeptics argue that capitalism has redistributed the wealth of the planet in favor of a very few, meanwhile leaving the planet in bad shape and leaving billions of people out in the cold. Wealth is now extremely mal-d...

Why the global economy has become increasingly unstable, and how financial “de-carbonization” could break the pattern of bubble-driven wealth destruction.The global economy has become increasingly, perhaps chronically, unstable. Since 2008, we have heard about the housing bubble, subprime mortgages, banks “too big to fail,” financial regulation (or the lack of it), and the European debt crisis. Wall Street has discovered that it is more profitable to make money fro...

This monograph length report, first published in 1970, originated from a program of research at Resources for the Future that dealt with the management of residuals and of environmental quality. It presents some of the broad concepts that the program was based on and represents the effort to break out of the traditional approach in pollution and policy research, which had treated air, water, and solid waste problems as separate categories. This book will be of interest to students of econo...

In this volume, a group of distinguished international scholars provides a fresh investigation of the most fundamental issues involved in our dependence on natural resources. In Scarcity and Growth (RFF, 1963) and Scarcity and Growth Reconsidered (RFF, 1979), researchers considered the long-term implications of resource scarcity for economic growth and human well-being. Scarcity and Growth Revisited examines these implications with 25 years of new learning and experience. It finds that con...

This Element is an excerpt from Crossing the Energy Divide (ISBN: 9780137015443) by Robert U. Ayres and Edward H. Ayres. Available in print and digital formats.   Finally: a coherent, integrated energy strategy based on techniques and technologies that have already been proven in the real world!   We envision a national energy strategy with eight main compo...

Achieving the goals and objectives of sustainable development requires better information about the consequences of proposed actions. Partial information accounts for many failed efforts in the past. The financial implications for the proponent of the projects have often been more thoroughly analyzed than the implications for other actors. The impacts on biological diversity, or on the social fabric of local communities, have often been ignored. Decisi- makers may also focus more on the sh...

The next bull market is here. It’s not in stocks. It’s not in bonds. It’s in commodities –and some smart investors will be riding that bull to record returns in the next decade.Before Jim Rogers hit the road to write his bestselling books Investment Biker and Adventure Capitalist, he was one of the world’s most successful investors. He cofounded the Quantum Fund and made so much money that he never needed to work again. Yet despite his success, Ro...

How much further should the affluent world push its material consumption? Does relative dematerialization lead to absolute decline in demand for materials? These and many other questions are discussed and answered in Making the Modern World: Materials and Dematerialization.Over the course of time, the modern world has become dependent on unprecedented flows of materials. Now even the most efficient production processes and the highest practical rates of recycling m...

The United States has a problem – a big problem. Due to costs associated with the massive bailout of financial institutions deemed "too big to fail," on-going armed conflicts, and a move towards socialism, another even bigger bubble is about to burst – the debt bubble. The Great Super Cycle: Profit from the Coming Inflation Tidal Wave and Dollar Devaluation is an intriguing look at the relationship between Washington and Wall Street; the history of political shifts in power and ho...

"America's debt is a powder keg about to blow, and the fuse was lit by the rush of bailouts and stimulus spending."Is your money inflation-proof? It had better be. On the heels of the most recent economic crisis, America is headed toward another: high inflation and dollar devaluation.Charles Goyette reveals the governmental errors that led to the current economic crisis and the bumpy road ahead. The signs are clear: Federal debt is compounding while growth ...