Jevons Paradox
What the nineteenth century can teach us about fuel efficiency.
In 1865, the most prolific economic mind on the planet was occupied with coal. More specifically, William Jevons was trying to understand why the consumption of coal in England continued to increase despite ever more efficient steam engines. What became known as the Jevons Paradox explains why increases in efficiency result in higher total consumption. The news has yet to reach Washington.