Inin energy, and logistics, and finance.

And it's an idea that I think is very prevalent at these TED Talks, the idea that we can invent our way out of a profound economic and energy crisis, that a move to a knowledge economy can somehow neatly sidestep those energy constraints, the idea that we'll discover some fabulous new source of energy that will mean we can sweep all concerns about energy security to one side, the idea that we can step off neatly onto a completely renewable world.

The Green Energy and Green Economy Act is unlike anything else in North America.

Let me give you a couple examples.

Hydrogen has to be extracted from Natural Gas, coal or water, which uses more energy than we get from the Hydrogen.

And with that you will get two extra, but that won't change the energy use very much.

Microeconomics .. and those actors could be firms, could be people, it could be households.

THE ENVlRONMENT INFLUENCE

So, here is the implication of the relationship between the worlds of crime, terror, and illegal economy, and our economy.

In the same fashion, a more efficient engine that uses less energy will, paradoxically, lead to greater energy use.

Now, I calculated how big was this international economic system composed by crime, terror, and illegal economy, before 9 11.

The economies were hit hard by energy price increases.

The East Asian economies were hit hard by energy price increases.

They're doing it through an outlaw thing, the informal economy.

That is

And when we talked about how would we measure the economic activity in this island right over here how would we measure its gross domestic product (GDP) we said, well, look, we could measure it in multiple different ways as it's leaving his hands, the dollars, and it's going to the firm, you could view it as a total expenditures, or as it's approaching the firm, that's the same thing as the total revenue for this firm.Total revenue for this firm, simplified one firm economy.

And the interesting thing about this is that these folks here who did it , are all economists, two from MlT, other from the university of Chicago, one at Cargenie meilon, ok?

And we've heard a lot about how economies function.

A nice thing. If you haven't seen it yet, come and experience the Solidarity Economy.

So the idea that we can smoothly transition to a highly efficient, solar powered, knowledge based economy transformed by science and technology so that nine billion people can live in 2050 a life of abundance and digital downloads is a delusion.

And macro economics is probably more guilty of it.

With the Put Out system?

Let us take a look at the world situation today.

Economic development forum.

But today, finally, after economic reforms, and economic growth,

Economic games. So what we do is we go into two areas.

Econometrics package

Von Mises, interestingly, believes economics is just a subset of psychology.

In the 1990s, North Korea lost its old mentor, the Soviet Union.

How much do you prefer a first born son?

The topics range from math

Simple economics.

No, I'm agreeing with you, but I went through all this with Walt.

We've been here before with energy, and people saying the economy cannot withstand a switch, because the cheapest energy was slavery.

a latticework on which to hang your ideas.

Economics is the study of economic mechanisms.

Then the other thing happened.

They wanted us to be concerned about social issues.

We were having negative per capita growth.

The lowest percentage of entrepreneurs starting businesses.

On paper the country was doing great.

Here's the overall picture.

Then the economy boom!

Well the economy, you know, so....

Economic meltdown.