The Rising Cost of Resources and Global Indicators of Change

Abstract

Prices are the signals that inform what we consume, but they alone do not tell us how much we spend in total. [...]it is useful to measure the energy-food cost share as total expenditures (price x consumption) on food �nd energy relative to GDP (and also as a percentage of personal income). In an increasing number of locations, the marginal installation of renewable electricity technologies such as solar and wind is now cheaper than fossil fuel options. [...]some authors argue that we can easily and affordably substitute renewable energy technologies that extract energy flows (such as sunlight, wind, or waves) for ones that extract and convert fossil energy stocks.