Friday, December 19, 2014

Jevon's Paradox

In 1866, Stanley Jevons wrote about the seemingly contradictory determination that increased efficiency results in increased consumption: "It is wholly a confusion of ideas to suppose that the economical use of fuel is equivalent to a diminished consumption. The very contrary is the truth. As a rule, new modes of economy will lead to an increase of consumption." 

It is now referred to as Jevon's Paradox. A copy of Stanley's book can be accessed here:  Jevon's Paradox

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