1Romanian-born American economist Nicholas Georgescu-Roegen (–) had a strong interest in epistemology. In Analytical Economics . Nicholas Georgescu-Roegen was a Romanian American mathematician, statistician and economist. He is best known today for his magnum opus on The  Doctoral students‎: ‎Herman Daly. The Entropy Law and the Economic Process [Nicolas Georgescu-Roegen, Nicholas Georgescu-Roegen] on *FREE* shipping on qualifying offers.


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In it, man can use exosomatic organs, i.

The Original Time Approach of Georgescu-Roegen

For wherever there is evolution, the author argues, there nicholas georgescu roegen the work of the Entropy Law with its irrevocable qualitative Change. A limit may exist, but it can be neither defined nor specified in economic terms" [3, pp.

We also read that there is no upper limit even for arable land because "arable is infinitely indefinable" [55, p.

The sophistry of these arguments is flagrant. No one would deny that we cannot say exactly how much coal, for example, is accessible.


Estimates of natural resources have constantly been shown to be too low. Also, the point that metals contained in the top mile of nicholas georgescu roegen earth's nicholas georgescu roegen may be a million times as much as the present known reserves [4, p.

And since all kinds together are in finite amount, no taxonomic switch can do away with that finiteness.

Nicholas Georgescu-Roegen

The nicholas georgescu roegen thesis of standard and Marxist economists alike, however, is that the power of technology is without limits [3; 4; 10; 49; 51; 69; 74].

We will always be able not only to find a substitute for nicholas georgescu roegen resource which has become scarce, but also to increase the productivity of nicholas georgescu roegen kind of energy and material.

Should we run out of some resources, we will always think up something, just as we have continuously done since the time of Pericles [4, pp. Nothing, therefore, could ever stand in the way of an increasingly happier existence of the human species.

The Entropy Law and the Economic Process

One can hardly think of a more blunt form of linear thinking. By the same logic, no healthy nicholas georgescu roegen human should ever become afflicted with rheumatism or any other old-age ailments; nor should he ever die.

Dinosaurs, just before nicholas georgescu roegen disappeared from this very same planet, nicholas georgescu roegen behind them not less than one hundred and fifty million years of truly prosperous existence. And they did not pollute environment with industrial waste!

But the logic to be truly savored is Solo's [73, p. If entropic degradation is to bring mankind to its knees sometime in the future, it should have done so sometime after A.


The old truth of Seigneur de La Palice has never been turned around -- and in such a delightful form. First, there is the assertion that only a few kinds nicholas georgescu roegen resources are "so resistant to technological advance as to be incapable of eventually yielding extractive products at constant or declining nicholas georgescu roegen [3, p.

The idea is that technology improves exponentially [4, p.

Selections from "Energy and Economic Myths" by Nicholas Georgescu-Roegen

The superficial justification is that one technological advance induces another. This is true, only it does not work cumulatively as in population growth. Nicholas georgescu roegen it is terribly wrong to argue, as Maddox does [59, p.

Even if technology continues to progress, it will not necessary exceed any limit; an increasing sequence may have an nicholas georgescu roegen limit. In the case of technology this limit is set by the theoretical coefficient of efficiency Production would ultimately become incorporeal and the earth a new Garden of Eden.

Finally, there is the thesis which may be called the fallacy of endless substitution: Aluminum, nicholas georgescu roegen the other hand, has replaced iron and copper in many, although not in all uses.

In Solow's hands, substitution becomes the key factor that supports technological progress even as resources become increasingly scarce.

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