The Paradigm of Sustainability and the Entropic Approach of Economic Systems in the View of Nicholas Georgescu-Roegen

Author/s Florinda Bran, Carmen Valentina Radulescu, Ildiko Ioan
Publishing Year 2014 Issue 2014/2 Language English
Pages 14 P. 175-188 File size 165 KB
DOI 10.3280/RISS2014-002011
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Sustainability will bring changes in all aspects of the everyday life by overposing ecology over economy. Departing from this prediction made more than a decade ago we are analysing at what extent the entropy based economic theory of value could contribute to the paradigm shift needed for a faster change toward sustainability. Concepts and rational of Nicholas Georgescu-Roegen developed several decades ago are revisited and interpreted through the lence of sustainability. Finally it is discussed how entropy management tools could be used for minimizing high entropy generation and creating incentives to support negentropy sources such as education, research, but also traditional ecological knowledge.

Keywords: Entropy, economic value, sustainability, bioeconomics, information

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Florinda Bran, Carmen Valentina Radulescu, Ildiko Ioan, The Paradigm of Sustainability and the Entropic Approach of Economic Systems in the View of Nicholas Georgescu-Roegen in "RIVISTA DI STUDI SULLA SOSTENIBILITA'" 2/2014, pp 175-188, DOI: 10.3280/RISS2014-002011