Errata

In my previous post, I quoted some numbers from François Cellier. In doing so, I inadvertently used the word "oil" where I should have used the word "energy". As a result, I incorrectly calculated the approximate oil price as percentage of GDP at which the global economy stalls out to be 25% instead of 6%. The specific numbers are irrelevant to the rest of my argument; however, a lot of people (who are apparently comfortable with arithmetic but not much else) have decided that this is a reason t
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Published on June 20, 2009 12:55
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