Business, 21.03.2020 04:11 noahdavis58

Hall and Klitgaard approach economic history as a sequence of technical and political arrangements to deal with energy. Indeed, they see energy as the single non-substitutable factor of production.

The key issue for them is Energy Return on Energy Invested. How do they calculate EROEI?

a EROI = Energy Output/Energy Input
b EROI = Energy Input/Energy Output
c EROI = Energy Output divided by the price of energy
d EROI = Energy Input divided by the price of energy

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Hall and Klitgaard approach economic history as a sequence of technical and political arrangements t...