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MISSING FROM THE MAINSTREAM: THE BIOPHYSICAL BASIS OF PRODUCTION AND THE PUBLIC ECONOMY

MISSING FROM THE MAINSTREAM: THE BIOPHYSICAL BASIS OF PRODUCTION AND THE PUBLIC ECONOMY Just as mainstream economics neglects the biophysical basis of production and disregards energy as the most fundamental input, it likewise ignores the existence of the public economy. Both types of denialism threaten the ability of societies to develop energy solutions that can meet the needs of the polity. This article calls for a new theory of the public economy and it outlines elements of such a theory. Both a biophysical economics and a new public economics are needed to address the energy challenges confronting modern societies. JEL codes: D73; H83; P28; Q43 Keywords: economics; sustainability; biophysical economics; political science; public administration; ecology; entropy http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Economics, Management, and Financial Markets Addleton Academic Publishers

MISSING FROM THE MAINSTREAM: THE BIOPHYSICAL BASIS OF PRODUCTION AND THE PUBLIC ECONOMY

Economics, Management, and Financial Markets , Volume 13 (3): 18 – Jan 1, 2018

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Publisher
Addleton Academic Publishers
Copyright
© 2009 Addleton Academic Publishers
ISSN
1842-3191
eISSN
1938-212X
Publisher site
See Article on Publisher Site

Abstract

Just as mainstream economics neglects the biophysical basis of production and disregards energy as the most fundamental input, it likewise ignores the existence of the public economy. Both types of denialism threaten the ability of societies to develop energy solutions that can meet the needs of the polity. This article calls for a new theory of the public economy and it outlines elements of such a theory. Both a biophysical economics and a new public economics are needed to address the energy challenges confronting modern societies. JEL codes: D73; H83; P28; Q43 Keywords: economics; sustainability; biophysical economics; political science; public administration; ecology; entropy

Journal

Economics, Management, and Financial MarketsAddleton Academic Publishers

Published: Jan 1, 2018

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