Economic growth is the process by which a nation’s wealth increases over time. There is a short-term and a long-term economics. The long-term economics includes energy resource. Energy is everywhere, and it is impossible to develop economy without it. Over the past years, in the U.S. and all over the world, energy use has greatly increased. However, long-term economic growth has its natural limits. People heat their apartments, factories run, cars drive - and the atmosphere and the environment are heating. Currently, such situation is not to worry about, but in the long term, the constant energy use can drive to a global warming.
If the government wants the economy to increase, for example, at three percent a year in the long term, energy use will rise from two to three percent a year, and then they will virtually boil the oceans just in a few ages. It is useless to say, that the U.S. cannot do that. Nevertheless, if energy use has limits, economic growth may have its limits too. Up to the present moment, no one has found a method to separate economics and energy use. Time shows that bigger economies need more energy.
In the U.S., economy is intended for growth and would go to ruin without it. If economic growth will slow down, the government will have to make a transformation of each basis of economic structure - and it is impossible to imagine, how will they do it. Maybe, they should invest money in a science for invention of the new advanced techniques, which would help in saving natural resources and providing the state with wasteless industry, such as solar energy or wind energy. The use of these kinds of energy may reduce the use of water resources. There will be no need to build large hydroelectric power stations or nuclear power plants.
In conclusion, it is worth mentioning that the government of the U.S. has many alternatives to address the limits to long-term economic growth, and it would be a good idea to try each of them and find some options that will supply the economy with long-term growth and at the same time will not destroy the earth.
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