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The Need for a New, Biophysical-Based Paradigm in Economics for the Second Half of the Oil Age

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Publication date: 2006-11-24
First published in: International Journal of Transdisciplinary Research
Authors: C.A.S. Hall & K. Klitgaard

Abstract:

The realization that the conceptual base for much of conventional economics is quite flimsy is no longer news to either those who follow events within the field or too many interested outsiders in the natural sciences. For an easy example, since 1998 a surprisingly large number of Nobel Laureates in economics (Joseph Stiglitz, George Akerlof, Daniel Kahneman, Robert Aumann, Thomas Schelling, and Amartya Sen) were people whose work challenged, in various very fundamental ways, the existing basic paradigm of
conventional neoclassical economics.

Published in: International Journal of Transdisciplinary Research Vol. 1, No. 1, 2006
Available from: see below

the need for a new biophysical-based paradigm in economics ….pdf 536.38 KB

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