Energy and the State of Nations

Dietmar Lindenberger () and Rainer Kuemmel ()
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Dietmar Lindenberger: Energiewirtschaftliches Institut an der Universitaet zu Koeln
Rainer Kuemmel: Energiewirtschaftliches Institut an der Universitaet zu Koeln

No 2011-11, EWI Working Papers from Energiewirtschaftliches Institut an der Universitaet zu Koeln (EWI)

Abstract: The mathematical conditions for the existence of macroeconomic production functions that are state functions of the economic system are pointed out. The output elasticities and the elasticities of substitution of energy-dependent Cobb-Douglas, CES and LinEx production functions are calculated. The output elasticities, which measure the productive powers of production factors and whose numerical values have been obtained for Germany, Japan, and the USA, are for energy much larger and for labor much smaller than the cost shares of these factors. Energy and its conversion into physical work accounts for most of the growth that mainstream economics attributes to “technological progress” and related concepts. It decisively determines the economic state of nations. Consequences for automation and globalization and perspectives on growth are discussed.

Keywords: energy; economic growth; macroeconomic production functions; output elasticities (search for similar items in EconPapers)
JEL-codes: E23 O41 Q43 (search for similar items in EconPapers)
Pages: 22 pages
Date: 2011-12-28
New Economics Papers: this item is included in nep-ene, nep-hme and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (24)

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Persistent link: https://EconPapers.repec.org/RePEc:ris:ewikln:2011_011

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