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Nicholas Georgescu-Roegen: A Mind That Thought above His Time

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Nicholas Georgescu-Roegen’s great contributions to the various fields of economic theory have not always received an adequate response. In particular his innovative representation of the economic process deserves to be examined carefully. With his original approach, that he began to develop in 1965, he demonstrates that economic processes are entropic in character and unidirectional: a vision in contrast with the prevailing versions, which are timeless and mechanistic. By making a distinction between processes that are arranged in series, in parallel and in line and, within the constituting elements, between stocks, funds and flows, Georgescu-Roegen develops a theory of production more adherent to reality. This representation underlines that each economic process has a duration, is part of Nature and follows her laws. Finally, his physiological analysis of the economic system, developed with a flow-fund matrix, sheds light on economic change that is essentially a qualitative change.

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  • De Gleria, Silvana, 1995. "Nicholas Georgescu-Roegen: A Mind That Thought above His Time," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 48(3), pages 317-346.
    • Handle: RePEc:ris:ecoint:0391
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    Cited by:

    1. Arnaud Diemer, 2010. "Comment construire des savoirs transversaux face à l'excès d'économie ?," Post-Print halshs-00957874, HAL.
    2. Sylvie Ferrari & Félix Garnier & Alain Alcouffe & Cécile Batisse, 2023. "L’Anthropocene Comme Rupture De L’Histoire De L’Economie," Post-Print hal-04099238, HAL.
    3. Andrea Maneschi, 2000. "Nicholas Georgescu-Roegen and the Filiation of Economic Ideas," Vanderbilt University Department of Economics Working Papers 0018, Vanderbilt University Department of Economics.
    4. Claudia Kettner & Angela Köppl & Sigrid Stagl, 2014. "Towards an Operational Measurement of Socio-ecological Performance. WWWforEurope Working Paper No. 52," WIFO Studies, WIFO, number 47154, April.

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