Complete Bioeconomics & Degrowth Look Like This

 Most of the Bioeconomics of today is not that of Georgescu-Roegen, the founder of the concept.  Why?  Because the "updated", new century versions are incomplete, and they seem to eschew "degrowth".  There's much more to bioeconomics than just bioenergy, which seems to be the main (or only) focus today.  Plus, the original bioeconomics promoted the idea of degrowth.

In the article below, the ecological and political economist, Giorgos Kallis (one of today's leading champions of degrowth), presents specific policies which would make possible a thriving society without economic growth.

https://www.greeneuropeanjournal.eu/can-we-prosper-without-growth-10-policy-proposals/

Are some of these policies "radical"?  Frankly, yes; but that's the approach needed if we are to get through the ongoing Social-Ecological Crisis now upon us.  If we are to survive and thrive, we must discard the Edward Bernays style propaganda to which we've been subjected for decades.  The neoclassical/neoliberal economists have bamboozled us.

Unlimited Growth + Overconsumption + Inequality + Materialism = a rat race which is destroying not only our habitat, but us as well.  A paradigm shift in Ethics is in order.  Common sense and empirical evidence scream for it.  The main obstacle appears to be the sacrosanct vision of constant, perpetual Growth.

Tick-tock.

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Not only my opinion.  Be Well

In General, Is This Close to the Bioeconomics Being Pursued in Europe?

I haven't had time to study the article at the link below, but thought I would post it with the title question.  While I'm reviewing the piece, does anyone know the answer to the question?  [I'm guessing the answer is Yes.]

https://www.sciencedirect.com/science/article/pii/S2212567114000677

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You will have to scroll down when you get to the page in order to access the pdf text - "Download full text in PDF".

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Be Well

Georgescu-Roegen's Bioeconomics Approach to Development and Change

Nicholas Georgescu-Roegen (G-R), a highly skilled mathematician, epistemologist, & economist, was one of the thinkers who laid the bedrock for anything "Green" in economics.  He did so with his concept of Bioeconomics.

G-R spent much of his career at Vanderbilt University in Nashville.  His best known book, The Entropy Law and the Economic Process (1971), dealt not only with the two subjects in the title, but also science & thought, dialectics, epistemology, mathematical analysis, change/evolution, and society.  It's truly a "magnum opus".

Because the book detailed the problems and dangers of unlimited economic growth, it drew negative reactions from neoclassical/neoliberal economists.  After that, the work largely was ignored by mainstream economics.

G-R's Bioeconomics was/is genuinely revolutionary, and it's making a bigtime comeback.  In large part, that's due to the failures/problems of mainstream economics.  The two primary foundations of G-R's theory are as follows.
1. Human evolution, in addition to being within the body (endosomatic), has been outside the body (exosomatic) in the form of tools, machinery, industry, and external energy (e.g., fossil fuels).  Not only exosomatic manufactured components have become part of our evolution, but money as well.
2.  The recognition of the importance of qualitative change caused by new elements in economic processes is crucial to understanding economic reality.  [The mechanistic epistemology of neoclassical/neoliberal economics largely fails to account for such change because primarily (often only) mathematical analysis is used in constructing economic models.  Math formulas dominate.  G-R proposed a combination of math and a dialectical approach (involving discourse, discussion, & reasoned argumentation) in order to determine economic reality.]

In simpler terms, G-R maintained that neoclassical/neoliberal economics could not account for the unanticipated, unknown variables (e.g., the effects of industrial pollutants, social & income inequality, overharvesting of natural resources, and a plethora of anomalies in human behavior) in an economy because only math is used in economic analysis and prediction.  Dialectical reasoning - discussion of opposing views - is needed.  Input of words, not just math formulas.

In relation to development and change, G-R antagonized the mainstreamers by his insistence that economic analysis must be based on reality, observed facts, rather than mathematical abstractions.  He maintained that the neoclassical approach primarily consisted of nothing but conjecture.

For a much deeper look, see the article at the link below.

https://onlinelibrary.wiley.com/doi/epdf/10.1111/j.1467-7660.2009.01603.x

The economic genius of Nicholas Georgescu-Roegen finally is being recognized.
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Not only my opinion.  Stay Well

The Bioeconomics of Nicholas Georgescu-Roegen

Preface

Professor Georgescu-Roegen, a Romanian-American masterful mathematician and economist, laid the groundwork (with his Bioeconomics) for the discipline of Ecological Economics (Eco-Econ).  Herman Daly, generally acknowledged as the "Father of Eco-Econ", was Georgescu-Roegen's student back in the day.

The article at the link below relates in great detail a small part of the Bioeconomics founder's life.  His most famous publication was the book, The Entropy Law and the Economic Process (1971).  It's a discussion of a key principle in Eco-Econ.
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Why Study History?

In this particular case, there are at least two reasons:
1)  It's a fairly fascinating story.
2)  It's a great example of how and why a brilliant idea/concept can get smothered, ignored, delayed, and essentially squashed by the Establishment in any field of endeavor.  In regard to the application of entropy to economics, that's still ongoing to some degree by "mainstream" (neoliberal) economists.
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Conclusion

In trying to grasp the essence of any discipline, it's important to delve into its history.  I imagine some/many younger people who find Eco-Econ extremely appealing often wonder why it's not already implemented.  The article at the link below will give anyone great insight into a few possible/likely reasons for that.  It should encourage them to "hang in there".

https://www.degrowth.org/wp-content/uploads/2011/05/Levallois_degrowth-an-historical-nite.pdf
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Not only my opinion.  Be Well

Overview: The History & Future of Entropy's Influence on Economics

Preface

Admittedly, this topic is a bit esoteric.  Nevertheless, and even though I'm not any kind of mathematician, I believe there's a lot of insight to be gained from the journal article (published in April, 2020) at the link below.  The researcher, Jakimowicz, presents an analysis of entropy and the largely theoretical or nascent disciplines of quantum economics, complexity economics, econophysics, and the much more developed ecological economics.  He covers the role of the brilliant Romanian-American economist and science philosopher, Nicolas Georgescu-Roegen, in opening the door to the ongoing development (arguably, it's now pretty much complete) of ecological economics.  [In my next post, I'll link to a journal essay which discusses that.  It's quite an interesting story, and one which I believe demonstrates the arrogance of the "Church of Perpetual Growth & Overconsumption", aka, neoclassical/neoliberal economics.]
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Navigating the Article

If, like me, you're not a mathematician, then you can skim over the somewhat complex math formulas in the piece below.  Like Georgescu-Roegen, I've never believed that it's wise of economists to attempt to represent human behavior with math formulas anyway... and economics is very much about human behavior, not just goods and services.

To get a fairly solid understanding of the article, I recommend reading the Abstract, and then sections 1, 3, 6, and 12.  That should give you valuable insights into the connection of the Law of Entropy to ecological economics, and really, to all economics.

Though the piece is for those with advanced backgrounds, I believe anyone with only a bit of science education plus at least average intelligence can grasp the nuts & bolts of it.
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Conclusion

The journal article at the link below provides more proof that neoliberal economics--- which is destroying our life support systems--- is on the ropes, so to speak.  The King is vulnerable to being dethroned.  😄  It's time for people to step up, to demand of politicians (probably 90% of whom are neoliberals) a major change.  Without pressure, those politicians will not abandon their main constituency--- the Super-Rich.

https://www.mdpi.com/1099-4300/22/4/452/htm
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Not only my opinion.  Happy Trails, and Stay Well