Math Question – “double exponential decay”
Trying to visualize a graphical way to think about peak resources’ effect on the economy.
Up until now or very recently both are exponential growth functions. We know that the ultimate resource curve is normal with a peak and a decline that ends up being something resembling symmetrical.
But what happens to the economic growth curve? The way I see it, it would form a normal curve if the resource line were straight. In other words, resource extraction stops growing but still remains constant, and that produces exponential decay in economic growth. What about in reality where resources are declining at exponential rate and the economy is still trying to exponentially expand? What does a double-exponential decay function look like?
It will look like all single-resource dependent curves.