A time-varying aggregate efficiency converts the energy-GDP relation into a general thermodynamic model that corrects earlier claims of a constant 50-year link and reveals a 1970 historical minimum.
549–561, Elsevier, ISBN 9780121764807, available: https://vaclavsmil.com/wp-content/uploads/docs/smil-article-2004world-history-energy.pdf, accessed 2024-04-15
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A new monetary metric is found in the thermodynamic relation between energy and GDP
A time-varying aggregate efficiency converts the energy-GDP relation into a general thermodynamic model that corrects earlier claims of a constant 50-year link and reveals a 1970 historical minimum.