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Rethinking Economic Growth Theory From a Biophysical Perspective

  • Blair Fix

Part of the SpringerBriefs in Energy book series (BRIEFSENERGY)

Also part of the Energy Analysis book sub series (ENERGYANALYS)

Table of contents

  1. Front Matter
    Pages i-xii
  2. Blair Fix
    Pages 1-15
  3. Blair Fix
    Pages 17-43
  4. Blair Fix
    Pages 45-62
  5. Blair Fix
    Pages 63-84
  6. Blair Fix
    Pages 85-107
  7. Blair Fix
    Pages 109-117
  8. Back Matter
    Pages 119-125

About this book

Introduction

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.

Keywords

Biophysical Economics Differential Analysis Ecological Economics Economic Growth Energy Growth Decoupling Heterodox Economics Social Metabolism

Authors and affiliations

  • Blair Fix
    • 1
  1. 1.Faculty of Environmental StudiesYork UniversityTorontoCanada

Bibliographic information

  • DOI https://doi.org/10.1007/978-3-319-12826-9
  • Copyright Information The Author(s) - SpringerBriefs 2015
  • Publisher Name Springer, Cham
  • eBook Packages Energy
  • Print ISBN 978-3-319-12825-2
  • Online ISBN 978-3-319-12826-9
  • Series Print ISSN 2191-5520
  • Series Online ISSN 2191-5539
  • Buy this book on publisher's site
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