Energy is the ability to do work. Since economies do work, you’d figure that economics would be very concerned with energy. But you’d be wrong, at least for mainstream economics. The same is not true for ecological economics. In this lecture, I introduce two important concepts, namely exergy and EROI (energy return on energy invested), and discuss what they imply for the future of economic growth. Along the way, I discuss the important work of Bob Ayres, Benjamin Warr, and Charlie Hall.

To help you understand the ideas covered, check out my previous video on the Laws of Thermodynamics and the Economy:    • The Laws of Thermodynamics and the Ec...