Principles of Biophysical Economics

Biophysical Economics is an interdisciplinary subject, covering economics, physics and biology. The subject particularly emphasizes the importance of energy in production of goods and services. Biophysical economics deals with energy services, energy conversion process and energy utilization pattern on the basis of laws of thermodynamics. The physical process of conversion of energy in various stages and its utilization in economic goods production is the major focus of the subject. This subject urges the utilization of biological resources, bio inputs and biomass derived products in production of goods and services. This subject explains the physical process, physical resources and physical environment in economic goods production and such aspects are not significantly considered in conventional economics. The importance of biophysical economics received the attention of many scholars’ rights from the physiocrats to modern bio economist Nicholas Georgescu-Rogegen. They contributed the theoretical as well empirical explanation to the bio physical process of economic development. However, their thoughts and their empirical findings are not brought into a text book form of publication. Further, many scholars throughout the world written and published a large number of research papers, policy papers and working papers on Biophysical Economics, focusing on its various aspects. It is very essential to bring the contribution of various scholars into an integrated book form. The present book on Principles of Biophysical Economics is a synthesis of various dimensions and aspects of Biophysical Economics. It is the first book under the title and previously no such boon has published. This book is a major source of resource materials in studying and analyzing the biophysical process of production, distribution and consumption of goods and services. It is highly useful to the students and research scholars of economics, biology, physics, chemistry and engineering. Since, this book has been written in the form of multidisciplinary perspectives.

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