nine to noon tyler cowen.

Interesting interview yesterday (wed 9th) on Nine to noon, with one Tyler Cowen, author of “The Great Stagnation”.

http://en.wikipedia.org/wiki/Tyler_Cowen

Where he fails, as all economists do (Herman Daly and one or two excepted) is in not understanding that the growth of ideas happened on the back of having more free time to have them. And that free time was gotten courtesy of easily-gotten, compact energy.

He gets the cherry-pick of ideas, and the subsequent slow-down/consolidation. Not surprising, that process. Only one ‘first’ can happen in any discipline – one Wright Brothers, one Edison light bulb. Then its refinement. That’s a graph that’s trackable, no surprises there. Folk are still flying in aeroplanes with wings, people are still switching on incandescent light bulbs.

Kathryn Ryan asked the question (about whether energy supply was needed for his ‘future expansion) but he doesn’t get it. While economists continue in this nonsense, and the media continue not to understand (I suspect Ryan still doesn’t really understand the question she was asking, but at least she asked it) it, we aren’t going to get very far.

It was an interesting jig-saw piece, but no use without the rest of the picture.

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