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Energy and Economic Myths

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Energy and Economic Myths
Author(s)Georgescu-Roegen, Nicholas
AbstractIt is often stated that the economic profession is the most opportunistic of all, often shifting from one perceived problem to the other, with the problems often being not even closely related. Many times, these perceived problems are seeped in myths that society chooses to accept as truth: the myth of perpetual motion; the myth of inexhaustible, renewable energy sources; the myth of evaded ecological difficulty. This article seeks to conduct a simple analysis of the energy aspects of man’s existence in order to discover ecological problems. The main topics covered include mechanics versus thermodynamics, the entropy law and economics, accessible energy and accessible matter, disposable waste, myths about mankind’s entropic problem, possibilities for growth, the steady state, some basic bioeconomics, and modern agriculture.
Pages1-38
IssueNo
ArticleAccess to Article Summary Article
SourceSouthern Economic Journal
VolumeNo41
PubDateJanuary 1975
ISBN_ISSN0038-4038

Frontier Issues in Economic Thought

  • Volume 1: A Survey of Ecological Economics
  • Volume 2: The Consumer Society
  • Volume 3: Human Well-Being and Economic Goals
  • Volume 4: The Changing Nature of Work
  • Volume 5: The Political Economy of Inequality
  • Volume 6: A Survey of Sustainable Development


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