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Anurag's avatar

”Just like plants improved the efficiency of photosynthesis by moving the Rubisco reactions to a separate part of the leaf, James Watt doubled the efficiency of steam power by separating the hot and cold parts of the engine. This pattern extends to the modern day. We get more food from less land, more energy from less fuel, and more computation from smaller circuits.“ - this is absurd. We do get more food from less land but that is because we pump ungodly amounts of fossil fuels in the food production process. Numerous studies have shown that the energy efficiency of the modern agricultural sector is much worse than slash and burn or many other forms of primitiv agriculture.

An increase in efficiency does not imply a decrease in resource consumption. This has never happened in past and never will, each increase in efficiency is matched with an instantaneous increase in the overall consumption. Yes we made the electric bulbs more efficient, but we also increased their reach, making the overall consumption of electricity go up. Think of any tech and this is true, there has not been one single year when there has been a decrease in resource consumption. And this is keeping in mind that most of the world still lives in poverty. What we have managed to do for them is to feed them, and that has ruined ecosystems around the world, just to feed us. Imagine the amount of resources that will be required in making their standard of living at par with the west.

But this argument still ignores the main reason growth is pursued. Technological progress, efficiency maximisation, resource extraction, all of these are mere means to an end. And the end is the maximisation of return on capital invested. It is not inherent in technology that it will seek indefinite and explosive growth, but it is the fiduciary duty of a chief executive to his shareholders that he maximise the return on their capital, and failing to do so, he will be sacked and another pawn will be brought in his place who can ensure growth. Technology is just the means to deliver these return. Efficiency plays the game of capital when it makes chasing these returns easier, in no other context is efficiency beneficial to our society that thrives on planned obsolescence.

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J.K. Lund's avatar

"Since each human is born with this invention-machine in their skull, the rate of invention increases with our population size. This positive feedback loop defines the arc of human history and secures the prospects for unlimited future growth in human prosperity."

I have to ask then, Maxwell, what do you think our prospects are after 2050? Population stagnation and decline appear to be a sure bet at this point. Does this spell the end of progress or will AI pick up the slack?

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