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In memoriam – Nicholas Georgescu- Roegen. A New Paradigm

Ion Pohoata ()

Theoretical and Applied Economics, 2006, vol. 2(497), issue 2(497), 3-6

Abstract: The name of Nicholas Georgescu-Roegen has been associated with a new paradigm, a new way of thinking. Briefly, the main elements of the Roegenian intellectual matrix are: the entire theoretical and argumentative construction is subordinated to the general perspective, to the system; economics is a social science and in this case factual reality is the main validation criterion; economic processes take place according to the law of entropy, this leading to major reconsideration of neoclassical economic science; economic analysis must be essentially qualitative; mathematics and statistics are only tools; the institutional dimension stands as added-value to research; standard economic development must be replaced by sustained development.

Keywords: bioeconomy; law of entropy; sustained development; new epistemology: limited resources. (search for similar items in EconPapers)
Date: 2006
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Handle: RePEc:agr:journl:v:2(497):y:2006:i:2(497):p:3-6