Faculty Seminar: Resource Revolution: Are we on the cusp of sectoral transformations and a step change in productivity?
May 16, 2014 12:30pm - 2:00pm
McClelland Building 109
Stefan Heck, Steyer-Taylor Center Research Fellow and Consulting Professor at Precourt Institute for Energy at Stanford University will present some of his most recent work.
The industrial revolution triggered dramatic increases in productivity: per capita energy available increased 100x, GDP increased 13-fold after only doubling in the prior two millennia, transport costs dropped to one thirtieth, returns on capital tripled. My talk will explore whether we are on the cusp of a similar revolution – triggered by technology and business model change – on an input factor that has seen few productivity gains until recently: resources like land, minerals, energy, water. Billions of wealth and industries hang in the balance.