Submitted by CARPE DIEM
Study of the long economic history of the world suggests two things. Cheap fossil fuels actually explain little of how we got rich since the Industrial Revolution. And after an initial period of painful adaptation, we can live happily, opulently and indeed more healthily, in a world of permanent $100-a-barrel oil or even $500-a-barrel oil.
UC-Davis economist Gregory Clark explains in today’s Sacramento Bee.
(HT: Marginal Revolution)
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