The world economy is an amazingly complex, physics-based, self-organizing system. The three major elements are extracted resources including energy resources, human population, and demand coming through the financial system. Figure 1. Major elements of the world economy according to Gail Tverberg. These are human population, extracted resources including energy resources, and financial demand. All three of these elements tend to increase over time, but both population and extracted resources tend to hit limits because the world is…
