BIOECONOMY an Romanian scientific Paradigm offered to the Earth Planet.
The BIOECONOMY paradigm progenitor Nicholas Georgescu-Roegen, born Nicolae Georgescu (4 February 1906 – 30 October 1994) was a Romanian American mathematician, statistician and economist, best known for his 1971 magnum opus The Entropy Law and the Economic Process, which situated the view that the second law of thermodynamics, i.e., that usable “free energy” tends to disperse or become lost in the form of “bound energy”, governs economic processes. His work contributed significantly to BIOECONOMICS and to ECOLOGICAL ECONOMICS.
Georgescu-Roegen’s influence extends well beyond his well-known work on the thermodynamic foundations of economic systems and his career involved “his ambitious attempt to reformulate economic process as ‘bioeconomics,’ a new style of dialectical economic thought”. He is therefore considered “one of the key intellectual progenitors of ecological economics” and of what would become the “minimal bioeconomic program.” A principal contribution to economics by Georgescu-Roegen was the concept of entropy from thermodynamics (as distinguished from the mechanistic foundation of neoclassical economics drawn from Newtonian physics), as well as foundational work which later developed into evolutionary economics.
The Bioeconomy scientific term was introduced by Romanian scientist Dr. Grigore ANTIPA, member to the Romanian Academy, 1933 in his book “The BIOSOCIOLOGY and the BIOECONOMY of the BLACK SEA” – “LA BIOSOCIOLOGIE ET LA BIOECONOMIE DE LA MER NOIRE” – “BIOSOCIOLOGIA si BIOECONOMIA Mării Negre”.
The world we live in is marked by crises – of energy, food, water, health and ecological risks and uncertainties. While many acknowledge these crises, there are only a few who emphasize the need to revisit our theoretical frameworks and analytical categories that help us comprehend and perhaps resolve these crises. Whether these crises and associated development concerns are presented as arising from a deranged social system wheeling out of control’ or as aberrations that can be fixed by applying ‘the micro-economic foundations of Keynesian macro-economics’, the ideologues from different ends of the political-economic spectrum refuse to acknowledge the critical role of the environment and energy flows that shape and are shaped by social systems.
Nicholas Georgescu-Roegen, the Father of Ecological Economics, had not only warned the world of an impending crisis, but
also had given us the analytical handle to comprehend its ecological and social systems in all their contextual and evolutionary complexities (Georgescu-Roegen (1971) and (1979)). New generations of decision-makers confront multifarious complex interactions between social and ecological systems; there is a need at the very least, for informed academic insights and inputs that are conscious of and have the capacity to include ‘inconvenient variables’ like energy flows and processes like institutional inertia in their analysis of the interface between ecological and social systems. So much interesting the high recognition to the BIOECONOMY Romanian-American Initiator dr. Nicholas Georgescu ROEGEN, offered by the Indian Society for Ecological Economics (INSEE) is a professional society based on New Delhi. It is a regional society affiliated to the International Society for Ecological Economics (ISEE). INSEE will launch a learning forum on Georgescu-Roegen. This learning forum will
facilitate learning and understanding ecological changes and energy flows associated with human activities by studying the work of Georgescu-Roegen.
Dr. Nicholas Georgescu ROEGEN
The Entropy Law and the Economic Process in Retrospect