For centuries economists have believed in a model of production that combines labour, land and capital, no mention of energy or information. We all know the mess that has got us into. In reality, all production arises from the constraint of energy flows by information and the more efficient the constraint, the more efficient the production of goods and services. Using this scientifically based idea, we can recast economics to get a grip on the unfairness of the ‘Information Wild West’ and motivate the substitution of information for energy, guiding the world towards net zero. Let’s see how.
