The Urgency for Energy Economics

Mainstream literature favours a number of widespread ideas which are essentially flawed and block the public perception of reality. One is that material production can be conceived outside the physical world, as result of the sole combination of two production factors, capital and labour, unconstrained by physical laws. Another is that environmental scarcity and impacts are external to the economic process, sufficing to be internalized to account for sustainability and social responsibility. By failing to recognize and account the impending limitations on growth and threats on survival, a number of theoretical and very practical consequences issue which deserve urgent consideration.