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Biophysical Economics: Putting Energy at the Center - Scitizen. 20 Jan, 2010 03:25 pm inShare0 Many scientists have long complained that standard economics fails to account for the biological and physical systems that form the basis of the economy.
Publications. Biophysical economics. This article has been reviewed by the following Topic Editor: Robert Costanza Introduction Biophysical economics is characterized by a wide range of analysts from diverse fields who use ecology and thermodynamics to analyze the economic process. The history of biophysical thought is traced from the 18th-century Physiocrats to current empirical research, with emphasis on those individuals who contributed to the development of biophysical economic theory. Attention is also given to a critique of the neoclassical theory of natural resources from a biophysical perspective, and how recent empirical biophysical research highlights areas of neoclassical theory which could be improved by a more realistic and systematic treatment of natural resources.
Many of these critiques have roots in a broad body of research known as biophysical economics, the basic tenets of which are the focus of this analysis.