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Energy and Future Economic Growth

  • W. Sassin
  • W. Häfele
Part of the International Economic Association Publications Series book series (IEA)

Abstract

The difficulties of energy supply are growing, and the outlook for the decades ahead is dim. There is little doubt that energy-related problems will have their bearing on future economic growth. We still have an economic recession, to which the oil embargo of 1973 and the sudden fourfold price increase of crude oil have been contributing factors. Medium-term economic and energy growth projections have continually been revised downward since 1974. Yet the expert community still expects a possible major energy supply shortage around 1985 that would further aggravate the economic situation [1, 2, 3]. So the question is not whether energy prospects will affect the economic situation but rather: For how long will the energy problem be a major problem for economic development? and more so, which strategies could lead away from the foreseeable dilemma?

Keywords

Capital Stock International Institute Fossil Energy Energy Strategy Primary Energy Consumption 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© International Economic Association 1980

Authors and Affiliations

  • W. Sassin
    • 1
  • W. Häfele
    • 1
  1. 1.International Institute for Applied Systems AnalysisLaxenburgAustria

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