Engineers, Economists and Recurring Energy Theories of Value
FROM TECHNOCRACY TO NET ENERGY ANALYSIS: ENGINEERS, ECONOMISTS AND RECURRING ENERGY THEORIES OF VALUE by Ernst R. Berndt WP#1353-82 September 1982 [R] ____________________________1__11 FROM TECHNOCRACY TO NET ENERGY ANALYSIS: ENGINEERS, ECONOMISTS AND RECURRING ENERGY THEORIES OF VALUE by Ernst R. Berndt Massachusetts Institute of Technology Revised September 1982 Studies in Energy and the American Economy Discussion Paper No. 11 MIT-EL 81-065WP Research supported by the Department of Energy, under Contract EX-76-A-01-2295, Task Order 67, is gratefully acknowledged, as is support for earlier research on this topic provided by the Social Science and Humanities Research Council of Canada and the M.I.T. Center for Energy Policy Research. Discussions with participants of the Energy Policy Seminar at the M.I.T. Center for Energy Policy Research are also gratefully acknowledged, as are the helpful comments of Morris Adelman, Donald Blake, Harrison Brown, Robert Evans, Bruce Hannon, Paul Heyne, M. King Hubbert, Ralph Huenemann, J.R. Norsworthy, Paul Samuelson, Anthony Scott, Kirk Smith, Peter Temin and David Wood. Bibliographical assistance from librarians at the City of Calgary, New York University, M.I.T., City of Seattle, University of British Columbia, and the City of Vancouver is greatly appreciated. Forthcoming in Anthony D. Scott et al., eds., Studies in Natural Resource Economics, Oxford: Oxford University Press, 1983. I. Introduction "Pragmatically, a way to begin would be to set up a capability in government to budget according to flows of energy rather than money. Energy is the all-pervasive underlying currency of our society."1 - U.S.
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