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Introduction

  • Blair FixEmail author
Chapter
Part of the SpringerBriefs in Energy book series (BRIEFSENERGY)

Abstract

The purpose of this book is to begin thinking about what a biophysical growth theory might look like. All theories must start by excluding from their scope the complexities of the real world that are deemed irrelevant. The most appropriate starting point for a biophysical growth theory is to investigate the validity of the assumptions made by neoclassical growth theory (the dominant approach at the present time). This chapter outlines the basic tenets of neoclassical growth theory as well as the four implicit neoclassical assumptions that are tested throughout the book. A variety of critiques of neoclassical growth theory are reviewed, followed by a discussion of the unorthodox empirical methodology that is adopted (which involves abandoning the use of real GDP for measuring economic scale). This book uses energy flow as a measure of biophysical scale. While this methodology requires a leap of faith on the part of the reader trained in conventional economics, the need for a new approach to growth theory is so great that this paradigm shift can be justified.

Keywords

Gross Domestic Product Production Function Growth Theory Neoclassical Economist Real Gross Domestic Product 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© The Author(s) - SpringerBriefs 2015

Authors and Affiliations

  1. 1.Faculty of Environmental StudiesYork UniversityTorontoCanada

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