1.

Record Nr.

UNINA9910299616303321

Autore

Fix Blair

Titolo

Rethinking economic growth theory from a biophysical perspective / / by Blair Fix

Pubbl/distr/stampa

Cham : , : Springer International Publishing : , : Imprint : Springer, , 2015

ISBN

3-319-12826-4

Edizione

[1st ed. 2015.]

Descrizione fisica

1 online resource (129 p.)

Collana

Energy Analysis, , 2191-7876

Disciplina

330

333.7

333.79

338.9

338926

621

Soggetti

Economic growth

Energy policy

Energy and state

Sociophysics

Econophysics

Environmental economics

Economic Growth

Energy Policy, Economics and Management

Data-driven Science, Modeling and Theory Building

Environmental Economics

Lingua di pubblicazione

Inglese

Formato

Materiale a stampa

Livello bibliografico

Monografia

Note generali

Description based upon print version of record.

Nota di bibliografia

Includes bibliographical references and index.

Nota di contenuto

Introduction.- Decoupling.- Distribution.- Institutional Size.- Labor Structure -- Towards a Biophysical Growth Theory -- Appendix: US Sectors: Methodology and Sources.

Sommario/riassunto

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.