Nicholas Georgescu Roegen and Degrowth Economy
7 Pages Posted: 28 Aug 2012
Date Written: March 5, 2010
Several authors speak about the menace and collapse of our present civilization. The contemporary crisis is often properly associated with the relentless growing consumption in the pursuit of personal wants in the developed countries concomitant with poverty diffusion without precedent and with highly unsustainable ecological costs. As showed by the ecological footprint, we consume already more than the carrying capacity of the Earth’s life supporting systems. Yet, policy makers are incapable to adopt coherent and comprehensive strategies to ensure a better management of global resources. De-growth of economic activity has to be considered as a valid solution to twist the fast overshoot tendency of the market-economy system.
One of the founders of Ecological Economics, Nicholas Georgescu Roegen, is considered as the one who created the concept of de-growth and its main theoretician. In 1971, he published The Entropy Law and the Economic Process, which was translated into French in 1979 under the title Demain la décroissance ("tomorrow, de-growth"), launching the de-growth movements in France.
The present article aims at analyzing the de-growth economics as a branch of ecological economics discipline. It presents the origin of the movement, its background and conceptualization, as well relevance in the contemporary economic crisis.
Keywords: degrowth, Georgescu-Roegen
JEL Classification: B59, Y20
Suggested Citation: Suggested Citation