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Missing from the Mainstream: The Biophysical Basis of Production and the Public Economy

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  • June Sekera

Abstract

Just as mainstream economics neglects the biophysical basis of production and disregards energy as the most fundamental input, it likewise ignores the existence of the public economy. Both types of denialism threaten the ability of societies to develop energy solutions that can meet the needs of the polity. This article calls for a new theory of the public economy and it outlines elements of such a theory. Both a biophysical economics and a new public economics are needed to address the energy challenges confronting modern societies.

Suggested Citation

  • June Sekera, 2017. "Missing from the Mainstream: The Biophysical Basis of Production and the Public Economy," GDAE Working Papers 17-02, GDAE, Tufts University.
    • Handle: RePEc:dae:daepap:17-02
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    File URL: http://www.bu.edu/eci/files/2020/01/17-02Sekera_BiophysicalProduction.pdf
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    References listed on IDEAS

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    1. June A. Sekera, 2016. "The Public Economy in Crisis," SpringerBriefs in Economics, Springer, number 978-3-319-40487-5, October.
    2. Hall, Charles A.S. & Lambert, Jessica G. & Balogh, Stephen B., 2014. "EROI of different fuels and the implications for society," Energy Policy, Elsevier, vol. 64(C), pages 141-152.
    3. Roger E. Backhouse, 2005. "The Rise of Free Market Economics: Economists and the Role of the State since 1970," History of Political Economy, Duke University Press, vol. 37(5), pages 355-392, Supplemen.
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    Cited by:

    1. June Sekera & Andreas Lichtenberger, 2020. "Assessing Carbon Capture: Public Policy, Science, and Societal Need," Biophysical Economics and Resource Quality, Springer, vol. 5(3), pages 1-28, September.

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