by Kurt Cobb
[This article is reposted with permission from Kurt Cobb’s April 5th, 2009 post on his Resource Insights website. Kurt Cobb is the author of the peak-oil-themed thriller, Prelude, and a columnist for the Paris-based science news site Scitizen. His work has also been featured on Energy Bulletin, The Oil Drum, 321energy, Common Dreams, Le Monde Diplomatique, EV World, and many other sites.]
This decade was the one that was supposed to usher in the era when bits and bytes would replace tons and barrels as the measure of what an economy does. The information economy would eclipse the economy of blast furnaces and railcars.
The allure of such an economy is that it was said to be less resource intense, less driven by the high-amplitude economic cycles of the industrial economy, and more driven by the need for and efficient use of information, something that is always in demand. It turned out not to be so. The tech bust of the early part of this decade highlighted the vulnerability of the so-called information economy to cyclical forces and also the reliance of that economy on the more substantial physical economy. Continue reading The Unbearable Lightness of Information