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Energy and Future Economic Growth

In: Economic Growth and Resources

Author

Listed:
  • W. Sassin

    (International Institute for Applied Systems Analysis)

  • W. Häfele

    (International Institute for Applied Systems Analysis)

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?

Suggested Citation

  • W. Sassin & W. Häfele, 1980. "Energy and Future Economic Growth," International Economic Association Series, in: Christopher Bliss & M. Boserup (ed.), Economic Growth and Resources, chapter 2, pages 12-32, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-16328-1_2
    DOI: 10.1007/978-1-349-16328-1_2
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