Rethinking Economic Growth Theory From a Biophysical Perspective

Neoclassical growth theory is the dominant perspective for explaining economic growth. At its core are four implicit assumptions: 1) economic output can become decoupled from energy consumption; 2) economic distribution is unrelated to growth; 3) large institutions are not important for growth; and...

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Tác giả chính:	Fix, Blair
Định dạng:	Sách
Ngôn ngữ:	English
Được phát hành:	Springer 2016
Những chủ đề:	Natural resources Macroeconomics Economic development
Truy cập trực tuyến:	https://scholar.dlu.edu.vn/thuvienso/handle/DLU123456789/59733
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spelling	oai:scholar.dlu.edu.vn:DLU123456789-597332023-11-11T06:49:53Z Rethinking Economic Growth Theory From a Biophysical Perspective Fix, Blair Natural resources Macroeconomics Economic development Neoclassical growth theory is the dominant perspective for explaining economic growth. At its core are four implicit assumptions: 1) economic output can become decoupled from energy consumption; 2) economic distribution is unrelated to growth; 3) large institutions are not important for growth; and 4) labor force structure is not important for growth. Drawing on a wide range of data from the economic history of the United States, this book tests the validity of these assumptions and finds no empirical support. Instead, connections are found between the growth in energy consumption and such disparate phenomena as economic redistribution, corporate employment concentration, and changing labor force structure. The integration of energy into an economic growth model has the potential to offer insight into the future effects of fossil fuel depletion on key macroeconomic indicators, which is already manifested in stalled or diminished growth and escalating debt in many national economies. This book argues for an alternative, biophysical perspective to the study of growth, and presents a set of "stylized facts" that such an approach must successfully explain. Aspects of biophysical analysis are combined with differential monetary analysis to arrive at a unique empirical methodology for investigating the elements and dependencies of the economic growth process. 2016-03-02T01:50:04Z 2016-03-02T01:50:04Z 2015 Book 978-3-319-12826-9 978-3-319-12825-2 https://scholar.dlu.edu.vn/thuvienso/handle/DLU123456789/59733 en application/pdf Springer
institution	Thư viện Trường Đại học Đà Lạt
collection	Thư viện số
language	English
topic	Natural resources Macroeconomics Economic development
spellingShingle	Natural resources Macroeconomics Economic development Fix, Blair Rethinking Economic Growth Theory From a Biophysical Perspective
description	Neoclassical growth theory is the dominant perspective for explaining economic growth. At its core are four implicit assumptions: 1) economic output can become decoupled from energy consumption; 2) economic distribution is unrelated to growth; 3) large institutions are not important for growth; and 4) labor force structure is not important for growth. Drawing on a wide range of data from the economic history of the United States, this book tests the validity of these assumptions and finds no empirical support. Instead, connections are found between the growth in energy consumption and such disparate phenomena as economic redistribution, corporate employment concentration, and changing labor force structure. The integration of energy into an economic growth model has the potential to offer insight into the future effects of fossil fuel depletion on key macroeconomic indicators, which is already manifested in stalled or diminished growth and escalating debt in many national economies. This book argues for an alternative, biophysical perspective to the study of growth, and presents a set of "stylized facts" that such an approach must successfully explain. Aspects of biophysical analysis are combined with differential monetary analysis to arrive at a unique empirical methodology for investigating the elements and dependencies of the economic growth process.
format	Book
author	Fix, Blair
author_facet	Fix, Blair
author_sort	Fix, Blair
title	Rethinking Economic Growth Theory From a Biophysical Perspective
title_short	Rethinking Economic Growth Theory From a Biophysical Perspective
title_full	Rethinking Economic Growth Theory From a Biophysical Perspective
title_fullStr	Rethinking Economic Growth Theory From a Biophysical Perspective
title_full_unstemmed	Rethinking Economic Growth Theory From a Biophysical Perspective
title_sort	rethinking economic growth theory from a biophysical perspective
publisher	Springer
publishDate	2016
url	https://scholar.dlu.edu.vn/thuvienso/handle/DLU123456789/59733
_version_	1819847780722540544

Rethinking Economic Growth Theory From a Biophysical Perspective

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