What is the limiting factor?
<p><span class="inline inline-left"><img src="http://energybulletin.net/sites/default/files/images/CASSE-logo.thumbnail.jpg" alt="" title="" class="image image-thumbnail" width="77" height="100" /></span>In yesteryear’s empty world capital was the limiting factor in economic growth. But we now live in a full world.</p>
<p>Consider: What limits the annual fish catch — fishing boats (capital) or remaining fish in the sea (natural resources)? Clearly the latter. What limits barrels of crude oil extracted — drilling rigs and pumps (capital), or remaining accessible deposits of petroleum — or capacity of the atmosphere to absorb the CO2 from burning petroleum (both natural resources)?</p>
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