ABSTRACT
This chapter explains a technical framework that would allow one to evaluate the potential implications of peak energy production on economic growth. The framework developed could be updated to evaluate the trajectory of energy supply and economic growth using new data that will be available in the future. Modern capitalism is an economic and social system based on the pursuit of endless accumulation of capital. Sustained economic growth is indispensable for the normal operations of capitalism. The generation of nuclear electricity uses uranium, which is a nonrenewable resource. Hydro electricity is currently the most important renewable energy, accounting for 87 percent of the total electricity generation from renewable sources. 'Hubbert Linearization' is a common technique used to predict the ultimate recoverable amount of a nonrenewable resource. Measured by purchasing power parity, China now accounts for 10 percent of world GDP, about half of the current size of the US economy.
