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Capital without Energy is a Sculpture

Summary:
With the simple insight that “labour without energy is a corpse, and capital without energy is a sculpture”, Steve Keen realised why economists have failed to properly incorporate the role of energy in production for so long.

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With the simple insight that “labour without energy is a corpse, and capital without energy is a sculpture”, Steve Keen realised why economists have failed to properly incorporate the role of energy in production for so long.
Steve Keen
Steve Keen (born 28 March 1953) is an Australian-born, British-based economist and author. He considers himself a post-Keynesian, criticising neoclassical economics as inconsistent, unscientific and empirically unsupported. The major influences on Keen's thinking about economics include John Maynard Keynes, Karl Marx, Hyman Minsky, Piero Sraffa, Augusto Graziani, Joseph Alois Schumpeter, Thorstein Veblen, and François Quesnay.

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