Natural resources in the theory of production: the Georgescu-Roegen/Daly versus Solow/Stiglitz controversy

Autor: Quentin Couix
Přispěvatelé: Centre d'économie de la Sorbonne (CES), Université Paris 1 Panthéon-Sorbonne (UP1)-Centre National de la Recherche Scientifique (CNRS), Université Paris 1 Panthéon-Sorbonne (UP1), Université Paris 1 Panthéon-Sorbonne - UFR d'Économie (UP1 UFR02)
Jazyk: angličtina
Rok vydání: 2019
Předmět:
Joseph Stiglitz
Ecological economics
Production theory
060106 history of social sciences
General Arts and Humanities
Economics
Econometrics and Finance (miscellaneous)

06 humanities and the arts
Neoclassical economics
[SHS.ECO]Humanities and Social Sciences/Economics and Finance
Natural resource
JEL: Q - Agricultural and Natural Resource Economics • Environmental and Ecological Economics/Q.Q5 - Environmental Economics/Q.Q5.Q57 - Ecological Economics: Ecosystem Services • Biodiversity Conservation • Bioeconomics • Industrial Ecology
[SDE.ES]Environmental Sciences/Environmental and Society
JEL: B - History of Economic Thought
Methodology
and Heterodox Approaches/B.B2 - History of Economic Thought since 1925/B.B2.B22 - Macroeconomics

Nicholas Georgescu-Roegen
[SHS.HISPHILSO]Humanities and Social Sciences/History
Philosophy and Sociology of Sciences

History and Philosophy of Science
[SHS.ENVIR]Humanities and Social Sciences/Environmental studies
Economics
0601 history and archaeology
Robert Solow
theory of production
natural resources
JEL: Q - Agricultural and Natural Resource Economics • Environmental and Ecological Economics/Q.Q3 - Nonrenewable Resources and Conservation/Q.Q3.Q32 - Exhaustible Resources and Economic Development
Zdroj: European Journal of the History of Economic Thought
European Journal of the History of Economic Thought, Taylor & Francis (Routledge), 2019, 26 (6), pp.1341-1378. ⟨10.1080/09672567.2019.1679210⟩
ISSN: 0967-2567
1469-5936
DOI: 10.1080/09672567.2019.1679210⟩
Popis: International audience; This paper provides a theoretical and methodological account of an important controversy between neoclassical resource economics and ecological economics from the early 1970s to the end of the 1990s. It shows that the assumption of unbounded resource productivity in the work of Solow and Stiglitz–and the related concepts of substitution and technical progress–rest on a model-based methodology. On the other hand, Georgescu-Roegen’s assumption of thermodynamic limits to production, later revived by Daly, comes from a methodology of interdisciplinary consistency. I conclude that neither side provided a definitive proof of its own claim because both face important conceptual issues.
Databáze: OpenAIRE