New Article Recommendation: The End of Consumerism


Okay, so that’s what we’re looking at – the End of Consumerism. As this article from New Zealand states, its maybe not the end of the world. But we are reaching the limitations of growth.

It all comes down to the law of dimishing returns. The term Energy Return On Energy Invested (EROEI) is used to show the ratio of how much energy is required to extract it from source. In basic terms, this means the lower the ratio of the two, the cheaper the end product; the higher, the greater the price. As oil reserves become more difficult to extract – requiring more energy investment to continue prospecting – so supply starts to decline and is outstripped by demand. Overall, this could be very bad news for the future growth propects of the world economy.

However, the article does state that economic failure and the end of consumerism is something that we’ll get used to eventually. We may well but there will probably be a lot of pain in the meantime (might not be quite as bad as Dragon Line, though!) Whilst many think that its human population and inventiveness that drives growth (and that this makes it limitless), the article refers to an academic called Charles Hall. He states that the primary source of economic expansion is (and has been since the Industrial Revolution) the input of fossil fuels. If this input is reduced, then the chances are that economic growth will decline with it.

Do you agree? Check out the article here to read more and see what you think:

End of Consumerism – The Press

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About Owen Law

My pen-name is ‘Owen Law’ (real name: Nicholas Davies.) I’m a science fiction writer specialising in dystopian/apocalyptic visions of the future. I’m from Shropshire, England (on the borders with Wales) and I’m in my forties. I have a background in public services and training. I’ve been working on my first novel, Dragon Line, since 2008. I’ve also written several short stories, one of which you can find on this blog (‘Matilda Leviathan‘). I now reside on the border of Shropshire and Wales, and my interests include writing (of course!), current affairs and environmental issues.
This entry was posted in Article Recommendations, Books, Current Affairs, dragon line, Economic Collapse, Energy Crisis, Owen Law, peak oil, Science, Uncategorized, Web/Tech and tagged , , , , , , . Bookmark the permalink.

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