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Biophysical Economics: The Material Basis

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Energy and the Wealth of Nations

Abstract

In our first chapter, we provided a review of how modern (neoclassical) economics operates as a social science-based means of allocating «scarce» resources, including the philosophy behind the assumptions that govern the operation of that model of how economies work. In this approach markets are seen as especially important as a means of making economic decisions and guiding the allocation of productive resources.

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Author information

Authors and Affiliations

  1. College of Environmental Science & Forestry, State University of New York, Syracuse, New York, USA

    Charles A. S. Hall

  2. Wells College, Aurora, New York, USA

    Kent Klitgaard

Authors
  1. Charles A. S. Hall
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  2. Kent Klitgaard
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Additional information

Additional appropriate references can be found at a supplement to our paper “Hydrocarbons and the Evolution of human culture” (Nature 426 no. 6964. p. 318–322). ► www.nature.com/nature/journal/v426/n6964/extref/nature02130-s1.doc

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Hall, C.A.S., Klitgaard, K. (2018). Biophysical Economics: The Material Basis. In: Energy and the Wealth of Nations. Springer, Cham. https://doi.org/10.1007/978-3-319-66219-0_4

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  • DOI: https://doi.org/10.1007/978-3-319-66219-0_4

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  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-319-66217-6

  • Online ISBN: 978-3-319-66219-0

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