Energy and Economic Theory

The efficiency of conversion of different forms of energy into each other and the alternatives of energy policy may be considered from an economic, but also from a technical point of view, and the latter will gain in importance to the extent that the market does not furnish any reliable indicators for the allocation of resources in view of imperfect competition and environmental limitations. The analysis of the energy content of commodities allows to predict the consequences of various strategies to conserve energy and an increase of the amount of primary energy required to produce secondary energy. The contradiction between alternative appraisals are likely to overtax political authoritie