Supply of fossil fuels like coal and petroleum

Reference no: EM13689538

Suppose that the supply of fossil fuels like coal and petroleum will become more and more scarce in the next fifty year. With a growing global demand for energy and the looming threat of rising global temperatures, it would seem to be a recipe for a dramatic decrease in the growth rate of economic activity. Why do many economists believe that economies can continue to grow even in the face of resource scarity?

Reference no: EM13689538

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