Rethinking Economic Growth Theory From a Biophysical Perspective

Business & Finance, Economics, Economic Development, Industries & Professions, Industries
Cover of the book Rethinking Economic Growth Theory From a Biophysical Perspective by Blair Fix, Springer International Publishing
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Blair Fix ISBN: 9783319128269
Publisher: Springer International Publishing Publication: December 9, 2014
Imprint: Springer Language: English
Author: Blair Fix
ISBN: 9783319128269
Publisher: Springer International Publishing
Publication: December 9, 2014
Imprint: Springer
Language: English

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.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

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.

More books from Springer International Publishing

Cover of the book The Changing Role of the Management Accountants by Blair Fix
Cover of the book The Science Teaching Efficacy Belief Instruments (STEBI A and B) by Blair Fix
Cover of the book Avian Brood Parasitism by Blair Fix
Cover of the book Solid-Liquid Separation in the Mining Industry by Blair Fix
Cover of the book Measuring Women’s Political Empowerment across the Globe by Blair Fix
Cover of the book e-Mental Health by Blair Fix
Cover of the book Biogenic—Abiogenic Interactions in Natural and Anthropogenic Systems by Blair Fix
Cover of the book Next Generation Sequencing Based Clinical Molecular Diagnosis of Human Genetic Disorders by Blair Fix
Cover of the book Imperial Ladies of the Ottonian Dynasty by Blair Fix
Cover of the book Content-based Language Learning in Multilingual Educational Environments by Blair Fix
Cover of the book Impact of Cesium on Plants and the Environment by Blair Fix
Cover of the book Urban Planning for Healthy European Cities by Blair Fix
Cover of the book Gene Expression and Its Discontents by Blair Fix
Cover of the book The Management of Mutual Funds by Blair Fix
Cover of the book Practices for Network Management by Blair Fix
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy