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bioeconomics and sustainability

Essays in Honor of Nicholas Georgescu-Roegen Edited by Kozo Mayumi, Professor of Bioeconomics, The University of Tokushima, Japan and John M. Gowdy, Rittenhouse Professor of Humanities and Social Science, Department of Economics, Rensselaer Polytechnic Institute, US
Nicholas Georgescu-Roegen was described by Paul Samuelson as ‘an economist’s economist’. This book honors him by discussing his theories on a wide range of issues but particularly on environmental and energy economics. It is a dynamic tribute which extends his work to address the problems the human race will face in the 21st century.
Extent: 438 pp
Hardback Price: $178.00 Web: $160.20
Publication Date: 1999
ISBN: 978 1 85898 667 8
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  • Economics and Finance
  • Environmental Economics
  • Environment
  • Environmental Economics
Nicholas Georgescu-Roegen was described by Paul Samuelson as ‘an economist’s economist’. This book honors him by discussing his theories on a wide range of issues but particularly on environmental and energy economics. It is a dynamic tribute which extends his work to address the problems the human race will face in the 21st century.

The book shows how Georgescu-Roegen constructed nothing less than an almost complete theoretical alternative to neoclassical economics. Although best-known for his later work as an environmentalist and his work on energy and material transformation, Georgescu-Roegen also made seminal contributions to the economic theory of utility and production and is considered to be one of the founders of modern mathematical economics. In this book an internationally acclaimed group of contributors including Joan Martinez-Alier, William H. Miernyk, Herman Daly and Cutler Cleveland present discussions on environmental and energy economics as well as mathematical economics, economic development and peasant economies, and bioeconomics.

This book serves as an excellent all-inclusive introduction to the work of one of the great economists of the 20th century. This celebration of the contributions made by Georgescu-Roegen will be of interest to environmental and natural resource economists, as well as social and economic theorists.

With a dedication by Wassily Leontief and a foreword by Paul Samuelson.
‘This excellent book reminds us of the vitality and pluralism of a discipline that is under constant fire from its practitioners.’
– Michael Ashcroft, Sustainable Development

‘I highly recommend the book to those who already regard themselves as ecological economists and also to those who are engaged in and love mathematical modelling because they may better understand the sense of their doing so.’
– Jörg Köhn, International Journal of Sustainable Development
Contributors: C.J. Cleveland, H.E. Daly, S. De Gleria, S. Funtowicz, M. Giampietro, J.M. Gowdy, G.A. Lozada, J. Martinez-Alier, K. Mayumi, S. Mesner, W.H. Miernyk, M. Morroni, M. O’Connor, G. Pastore, P.A. Samuelson, R. Scazzieri, A. Tsuchida, F.-D. Vivien, S. Zamagni
Contents: Foreword by Paul Samuelson 1. Introduction 2. How Long can Neoclassical Economists Ignore the Contributions of Georgescu-Roegen? 3. From Political Economy to Political Ecology 4. Georgescu-Roegen’s Evolutionary Economics 5. Economic Growth Theory and the Georgescu-Roegen Paradigm 6. Nicholas Georgescu-Roegen’s Approach to Economic Value 7. Georgescu-Roegen on Consumer Theory 8. Biophysical Economics 9. From Agrarianism to Entropy 10. Embodied Energy Analysis, Sraffa’s Analysis, Georgescu-Roegen’s Flow–fund Model and Viability of Solar Technology 11. Production and Time 12. A Theory of Resilient Flow–fund Linkages 13. The Passage from Entropy to Thermodynamic Indeterminacy 14. Biophysical Roots of ‘Enjoyment of Life’ According to Georgescu-Roegen’s Bioeconomic Paradigm 15. The Role of Entropy and Energy in Natural Resource Economics 16. Five Conditions for Sustainable Living Systems Bibliography Index