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- W2247716080 abstract "The wored economy boomed during the 1960s, slumped in the 1970s, and the worst may be yet to come, the author relates. Today there is growing concern about diminising productivity, inflation, capital shortages, and unemployment. A global economy expanding at 4% per year will eventually be forced to rely upon resources of diminisng quality. Technological advances may for a time more than offset declines in resource quality, but at some point even the most ingenious attempts to compensate for nature will no longer be adequate. During the Seventies the decline in quality of additional resources has had many manifestations. One is the falling quality of new cropland. Another is the oceanic fisheries and diminising investment return on a biological system. With energy as with food, efforts to expand supplies meet with diminishing returns. The easily accessible supplies have been won. The prospects of further developing various other sources of energy are equally lacklustes. Closely related to the diminishing returns that plague efforts to expand output is the problem of inflation. In addition, diminishing returns make capital formation difficult. Then, to sum, all of these factors lead to unadequate employment, all of these issues are discussed in detail. (MCW)" @default.
- W2247716080 created "2016-06-24" @default.
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- W2247716080 date "1978-06-01" @default.
- W2247716080 modified "2023-09-27" @default.
- W2247716080 title "Global economic IIIs: the worst may be yet to come" @default.
- W2247716080 hasPublicationYear "1978" @default.
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