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The probable foundations of sustainabilism: Information, energy and entropy based definition of capital, Homo Sustainabiliticus and the need for a “new gold”

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  • Russ, Meir

Abstract

This conceptual, interdisciplinary paper will start with an introduction to the new-networked knowledge-based global economy and the importance of intellectual and, specifically, human, capital. Next, an advanced definition of human and other forms of capital using information, energy and entropy will be introduced. This will be followed by a discussion of the premises framing the study of economics and will focus on the role of law in the economy. Afterwards, the paper will suggest the addition of a new model of humans that should serve as the base for the concept of law, the homo sustainabiliticus. Ensuing this discussion and consistent with the newly proposed definition of capital, a proposal for a new currency (“new gold”) will be offered. This proposal suggests viewing usable, renewable energy, knowledge and data as the most important assets for the 21st century and is seen as the building block for the new sustainabilistic economy.

Suggested Citation

  • Russ, Meir, 2016. "The probable foundations of sustainabilism: Information, energy and entropy based definition of capital, Homo Sustainabiliticus and the need for a “new gold”," Ecological Economics, Elsevier, vol. 130(C), pages 328-338.
  • Handle: RePEc:eee:ecolec:v:130:y:2016:i:c:p:328-338
    DOI: 10.1016/j.ecolecon.2016.07.013
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    Cited by:

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    2. Ament, Joe, 2020. "An ecological monetary theory," Ecological Economics, Elsevier, vol. 171(C).
    3. Seckler, Matthias & Volkert, Jürgen, 2021. "The capability approach: A promising foundation for sustainable development?," Ecological Economics, Elsevier, vol. 183(C).

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