Why Do So Many Economists Underplay the Psychological and Biophysical Aspects of Life on Earth?
Michael Jefferson ()
Additional contact information
Michael Jefferson: ESCP Europe Business School
Biophysical Economics and Resource Quality, 2019, vol. 4, issue 4, 1-10
Abstract Standard economics and mainstream economists have been playing a marginal role in addressing the enormous challenges of a global shift to a low- or non-carbon energy future. Most economists have little knowledge of the role energy has played in human civilization, either from a psychological angle or a biophysical one. They usually appear to have limited knowledge of the constraints which lie ahead. All too often they are to be found backing over-optimistic, therefore unrealistic, expectations. This paper exposes the lacunae of “the dismal science” so far as most economists are concerned. It is based upon personal experience as a conventionally trained economist who in his working life found that his formal training in economics had little relevance. Its target audience is economists who should get more immersed in psychological and biophysical economics. Its intended readership includes those familiar with biophysical economics who wish to galvanise economists into taking the field more seriously.
Keywords: History; Key energetic principles; Uncertain future; Reality (search for similar items in EconPapers)
References: Add references at CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed
Downloads: (external link)
http://link.springer.com/10.1007/s41247-019-0064-9 Abstract (text/html)
Access to the full text of the articles in this series is restricted.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:spr:bioerq:v:4:y:2019:i:4:d:10.1007_s41247-019-0064-9
Ordering information: This journal article can be ordered from
Access Statistics for this article
Biophysical Economics and Resource Quality is currently edited by C.A.S. Hall and U. Bardi
More articles in Biophysical Economics and Resource Quality from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().