Question

With the arrival of the Industrial Revolution, machines became the main source of power for manufacturing and transportation. These machines were mostly dependent on fossil fuels—oil and coal. The world’s economy shifted from an agrarian-based economy to an oil-based economy. Today many people believe the world needs to shift again from an oil-based economy to a clean-energy economy. Just as the move from an agrarian-based economy to an oil-based economy created a destabilizing effect on the poor and working class, how might the shift to a clean-energy economy affect today’s poor and working class? How will the shift affect less-developed nations in comparison to more-developed nations?

Answer 1

Fossil Fuels, Steam Power, and the Rise of Manufacturing

The Transformation of the World

Early Steam Engines

Why Britain?

The Spread of the Industrial Revolution

Consequences of the Industrial Revolution

For Further Discussion

Clean Energy is rather hurting the economy since the transition from fossil fuel to renewable energy is hurting industries that have thrived on fossil fuels and is hurting the economy. It will hurt less developed nations since the transition from fossil fuels to renewable energy is costly amd expensive to produce. MDC will have a regression in economy for 2-5 years depending on the factor as companies thriving on fossil fuels will soon go bankrupt and file chapter 11 liquidity bankruptcy, this causes a whole breakdown of the economy.

Answer 2

Answer:

The developed countries can provide funds to open new schools and polytechnic institutions. These will not only increase the literacy rate,but will also provide vocational education. ... This will promote poor people to gain higher education. Finally,rich nations should help to improve the economy of poor countries.

Renewable energy improves human well-being and overall welfare well beyond GDP. Doubling the share of renewables in the global energy mix increases global GDP in 2030 by up to 1.1%, equivalent to USD 1.3 trillion. services as well as of fossil fuels.