Another brilliant exposition by Prof Steve Keen. The wording below is from a LinkedIn post I made tonight, targeted to Megan Woods (NZ Energy Minister) and Tina Schirr (BEC Lead)
We've somehow forgotten the lessons of 2008 wrt cascading failures of financial systems when energy demand outstrips energy supply. Reactive vs. proactive energy demand destruction is the difference between a hard landing and a less hard landing.
We've somehow forgotten the lessons of 2008 wrt cascading failures of financial systems when energy demand outstrips energy supply. Reactive vs. proactive energy demand destruction is the difference between a hard landing and a less hard landing.