> one type of money-like asset for another. If you look at it that way, aren't houses a money-like asset as well? Certainly, people now buy houses which would have in stocks or bonds before. And if so, what does that…
Glad I can help. He is referring to the Second Law of Thermodynamics: https://en.wikipedia.org/wiki/Second_law_of_thermodynamics
Any energy usage creates waste heat. This is relevant on a planetary scale as well as for biological organisms. Mammals, for example (and, in essence, all living beings), produce heat by their metabolism. The need to…
> one type of money-like asset for another. If you look at it that way, aren't houses a money-like asset as well? Certainly, people now buy houses which would have in stocks or bonds before. And if so, what does that…
Glad I can help. He is referring to the Second Law of Thermodynamics: https://en.wikipedia.org/wiki/Second_law_of_thermodynamics
Any energy usage creates waste heat. This is relevant on a planetary scale as well as for biological organisms. Mammals, for example (and, in essence, all living beings), produce heat by their metabolism. The need to…