Does a fish know that its nose is wet? Probably not. It swims in water, and assumes that is the only way any animal lives. We live in an economic world. Economic models that were developed years ago were created based on observations of how the economy seemed to work at the time. As time […]

via Our Finite World http://ourfiniteworld.com/2013/07/22/energy-and-the-economy-basic-principles-and-feedback-loops-2