Nicholas Stern, and other more bog standard Economists, all seem to believe in the magical power of Innovation. He writes about it in a reverential way in his book “A Blueprint for a Safer Planet”.
Innovation : gleaming, sparkling, wondrous dexterity : if there’s a buck to be made from shaving a saving, or fishing for an efficiency, it is assumed the holy Market Economy will be in there, innovating away.
Or that’s what Economists believe anyway, wholeheartedly, generally, generously, neo-liberally.
Continue reading Stern Remarks #3 : The Law of Diminishing Energy Returns