Nate Hagens, host of the podcast “The Great Simplification,” discusses the implications of fossil fuel/material depletion and the ways that our financial system is accelerating consumption under the shadow of a looming economic correction.
Nate argues that classical economics neglects the central role of energy, and he offers a critique of the idea of resource substitution, especially when it comes to liquid hydrocarbons. Will peak oil rear its head again as we slurp up dwindling oil reserves from source rock via fracing? With energy tightly coupled to GDP what will be the implications of decreasing energy for a society and economy based on exponential growth?
Listen to The Great Simplification: https://www.thegreatsimplification.com/